NGX: Equities market closes week with N898bn profit

Driven by strong performance from Transcorp, Neimeth, and Meyer, investors in the Nigerian equities market gained N898 billion at the close of trading on Friday.

This followed the rise in market capitalization to N57.1 trillion from N56.2 trillion posted by the bourse the previous day.

Similarly, the All-Share Index (ASI) increased to 104,421.23 from 102,802.25 recorded on Thursday.

The market breadth was positive as 59 stocks advanced and 12 declined, while 48 others remained unchanged in 11,512 deals.

Transcorp, Sterling Bank Financial Holding, and Neimeth Pharmaceutical led other gainers with 10% growth each to close at N15.40, N6.60 and N2.09 from the previous N14.00, N6.00, and N1.90 per share.

Meyer, PZ Cusson, Cadbury Nigeria, Chams Holding, and Access Bank Holding also posted 9.97%, 9.97%, 9.89, 9.85, and 9.85% in share prices respectively.

READ ALSO: BUA, Dangote cements, BUA Foods, Seplat top list of stocks to watch this week

On the flip side, John Holt led other price decliners as it shed 10% off its share price to close at N2.43 from its previous close of N2.70.

Morison Industries, NEM Insurance, and Deap Capital completed the list of losers in today’s trading with 9.76%, 9.15%, and 8.22% dip in share prices.

On the volume index, First Bank of Nigeria Holding traded 338.840 million shares valued at N8.87 billion in 142 deals followed by Guaranty Trust Bank Holding Company with 80.605 million shares worth N3.34 billion in 598 deals.

Transcorp traded 54.983 million shares valued at N834.8 million in 833 deals.

On the value index, FBNH traded stocks worth N8.877 billion in 142 deals followed by GTCO with N3.340 billion in 598 deals.

Nestle traded stocks worth N2.099 billion in 62 deals.

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