Business
NGX: Equities market rebounds as investors gain N178bn
The Nigerian equities market recovered from previous losses on Thursday as investors gained N178 billion at the close of the day’s trading.
This followed a surge in the share prices of stocks like FBNH, CAVERTON, and FLOUR MILL amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization increased to N55.7 trillion from N55.5 trillion recorded by the bourse the previous day.
The benchmark All-Share Index (ASI) increased to 97,025.17 from 96,715.04.
The market breadth was positive as 26 stocks advanced and 22 stocks declined, while 67 stocks remained unchanged in 9,615 deals.
FBNH, CAVERTON, and FLOUR MILL led other gainers with 10%, 10%, and 9.99% growth each in share prices to close at N26.40, N2.31, and N49.55 from the previous N24.00, N2.10, and N45.05 per share.
READ ALSO: NGX: Equities market begins week in red as investors lose N111.15bn
On the flip side, DAAR COMMUNICATION, ETERNA, and UNIVERSAL INSURANCE led other price decliners as they shed 8.86%, 8.14%, and 7.69% each to close at N0.72, N32.15 and N0.36 from the initial N0.79, N35.00, and N0.39 per share.
On the volume index, ACCESS CORP led trading with 80 million shares valued at N1.4 billion in 434 deals followed by FBNH which traded 51 million shares valued at N1.3 billion in 476 deals.
UBA traded 31 million shares valued at N745 million in 515 deals.
On the value index, ACCESS CORP recorded the highest value for the day trading stocks worth N1.4 billion in 434 deals followed by FBNH which traded equities worth N1.3 billion in 476 deals.
OANDO traded shares valued at N811 million in 1,113 deals.
By: Babajide Okeowo
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