Business
NGX: Equities market rebounds from losses with N66bn gain for investors
The Nigerian equities market rebounded from four consecutive losses to post a N66 billion gain at the close of trading on Friday.
This followed a surge in the share prices of stocks like LINKAGE ASSURANCE, LIVESTOCK, and MBENEFIT amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization rose to ₦65.8 trillion from ₦65.7 trillion posted by the bourse on Thursday.
The benchmark All-Share Index (ASI) increased to 104,962.96 points from 104,858.77 points recorded the previous day.
The market breadth was positive as 29 stocks advanced and 21 stocks declined, while 70 stocks remained unchanged in 10,099 deals.
LINKAGE ASSURANCE, LIVESTOCK and MBENEFIT led other gainers with 10%, 9.93% and 9.84% growth each in prices to close at N1.43, N8.41 and N0.67 from the previous N1.30, N7.65 and N0.61 per share.
READ ALSO: NGX: Investors lose N289bn as bearish sentiment enters third day
RED STAR EXPRESS, LEARNAFRCA, and ETRANZACT led other price decliners with 9.91%, 9.85% and 9.43% dip in share prices to close at N4.82, N3.02 and N4.80 from the previous N5.35, N3.35 and N5.30 per share.
On the volume index, FIDELITY BANK led trading with 62 million shares in 299 deals followed by ACCESS CORP which traded 38 million shares in 754 deals.
TANTALIZER traded 31 million shares in 88 deals.
On the value index, TRANSCOHOT traded stocks worth N1.2 billion in 606 deals followed by FIDELITY BANK which traded equities worth N1 billion in 299 deals.
ZENITH BANK traded shares valued at N1 billion in 707 deals.
By: Babajide Okeowo
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