Business
NGX: Equities market recovers as investors gain N262bn
The Nigerian equities market recovered from previous losses on Friday as investors went home with a N262 billion profit at the close of the day’s trading.
This followed a surge in the share prices of stocks like SEPLAT, ABCTRANS, and LIVESTOCK amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization increased to N56.04 trillion from N55.7 trillion recorded by the bourse on Thursday.
The benchmark All-Share Index (ASI) increased to 97,520.54 from 97,064.42 recorded the previous trading day.
The market breadth was positive as 33 stocks advanced and 21 stocks declined, while 61 stocks remained unchanged in 8,763 deals.
SEPLAT, ABCTRANS, and LIVESTOCK led other gainers with 10%, 9.82%, and 9.70% growth each in share prices to close at N4, 964.70, N1.23, and N3.28 from the previous N4, 513.40, N1.12, and N2.99 per share.
On the flip side, ETERNA, PZ, and REGALINS led other price decliners as they shed 10%, 9.49%, and 8.89% each to close at N27.00, N17.65, and N0.82 from the initial N30.00, N19.50, and N0.90 per share.
On the volume index, UBA led trading with 36 million shares valued at N991 million in 810 deals followed by STERLINGNG which traded 23 million shares valued at N121 million in 164 deals.
ELLAH LAKES traded 23 million shares valued at N105 million in 242 deals.
On the value index, UBA recorded the highest value for the day trading stocks worth N991 million in 810 deals followed by OANDO which traded equities worth N746 million in 606 deals.
SEPLAT traded shares valued at N708 million in 22 deals.
By: Babajide Okeowo
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