Connect with us

Business

NGX: Stock market rebounds from trading losses as investors make N345bn

Published

on

The Nigerian stock market rebounded from the four-day consecutive losses with a N345 billion growth in shareholders’ investments at the close of trading on Friday.

This followed the growth in the market capitalization to N55.7tr from N55.3tr posted by the bourse the previous day.

For the first time this week, the All-Share Index (ASI) increased to 101,858.37 from 101,227.42 recorded on Thursday.

The market breadth also closed positive as 38 stocks advanced, 27 declined, while 53 others remained unchanged in 8,925 deals.

May and Baker led other gainers with 10% growth in share price to close at N7.04 from its previous N6.40 per share.

Geregu Power, Meyer, and Veritas Kapita Assurance also posted 9.92%, 9.86, and 9.84% growth in their share prices.

READ ALSO: Investors pocket N45.8bn as Nigeria’s stock market ends week in bullish zone

On the flipside, Eterna led other price decliners as it shed 10% off its share price to close at N17.95 from its previous N19.90 per share.

Industrial and Medical Gasses Nigeria, Daar Communications, and Neimeth International Pharmaceutical with 9.37%, 9.21%, and 9.09 cut in their share prices completed the list of decliners in today’s trading.

Transcorp traded 33.343 million shares valued at N439.01 million in 615 deals followed by Universal Insurance with 21.247 million shares worth N7.8 million traded by shareholders in 109 deals.

EcoBank Transnational Inc. (ETI) traded 18.775 million shares valued at N486 million in 65 deals.

On the value index, Geregu traded stocks worth N2.142 billion in 379 deals followed by ETI with traded stocks worth N486 million in 65 deals.

GTCO traded equities worth N479 million in 254 deals.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now