Business
Equities market sustains bullish trading as investors gain N183bn
The Nigerian equities market sustained the previous day’s profit-making with another N183 billion profit for investors at the close of trading on Wednesday.
This followed a surge in the share prices of stocks like CONOIL, AFRICAN PRUDENTIAL INSURANCE and RT BRISCOE amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization surged to N59.7 trillion from N59.5 trillion recorded by the bourse on Tuesday.
The benchmark All-Share Index (ASI) increased to 98,509.68 from 98,206.97 recorded the previous day.
The market breadth was positive as 34 stocks advanced and 17 stocks declined, while 67 stocks remained unchanged In 7,943 deals
CONOIL, AFRICAN PRUDENTIAL INSURANCE and RT BRISCOE led other gainers with 10% growth each in share prices to close at N352.00, N14.30, and N2.42 from the previous N3.20, N13.00 and N2.20 per share.
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JULIUS BERGER, NSL TECH, and MULTIVERSE led other price decliners with 10%, 9.52%, and 7.63% decline each in share prices to close at N155.25, N0.57, and N5.45 from the previous N172.50, N0.63 and N5.90 per share.
On the volume index, E TRANZACT led trading with 70 million shares in 28 deals followed by UNIVERSAL INSURANCE which traded 23 million shares in 38 deals.
ZENITH BANK traded 21 million shares in 328 deals.
On the value index, ARADEL traded stocks worth N1.2 billion in 365 deals followed by ZENITH BANK which traded equities worth N93 million in 328 deals.
FBNH traded shares valued at N491 million in 292 deals.
By: Babajide Okeowo
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