Business
NGX: Equities market continues bullish run as investors gain N307bn
The equities market remained bullish as investors gained N307 billion at the close of trading on Wednesday.
This followed a surge in the share prices of stocks like Multiverse Mining & Exploration, UPDC Real Estate Investment Trust and Beta Glass Company, amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalisation rose ₦68.4 trillion from ₦68.1 trillion posted by the bourse on Tuesday.
The benchmark All-Share Index (ASI) increased to 108,849.83 points from 108,361.10 points recorded the previous day.
The market breadth was positive as 49 stocks advanced, 15 stocks declined, and 60 stocks remained unchanged in 17,496 deals.
Multiverse Mining & Exploration, UPDC Real Estate Investment Trust and Beta Glass Company led other gainers with 10%, 10% and 9.98% growth each in prices to close at N8.80, N6.60 and N146.05 from the previous N8.00, N6.00 and N132.80 per share.
READ ALSO: Nigeria’s stock market recovers as investors gain N240bn
Deap Capital Management & Trust Africa Prudential Plc and Linkage Assurance led other price decliners with 10%, 6.61% and 5.60% dip in share prices to close at N1.08, N1.13 and N16.00 from the previous N1.20, N1.21 and N16.95 per share.
On the volume index, Guaranty Trust Holding (GTCO) traded 98 million shares in 692 deals, followed by Tantalizers Plc which traded 75 million shares in 107 deals.
Fidelity Bank Plc traded 40 million shares in 468 deals.
On the value index, Guaranty Trust Holding (GTCO) emerged as the top traded stock, gathering N6.5 billion in 692 deals, followed by Zenith Bank Plc (ZENITHBANK) which traded equities worth N1.8 billion in 903 deals.
Nigerian Breweries Plc (NB) traded shares valued at N1.6 billion in 523 deals.
By: Babajide Okeowo
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