NGX: The equity market is rebounded because investors get N30 billion in five hours

The Nigerian equity market recovered from the previous day with N30 billion profits for investors at the close of trading on Thursday.

This follows the surge in stock prices such as African Prudential Insurance, Guinea Insurance and Daar Communication among others on the trading floor.

After five hours of trading in the capital market, the capitalization of equity rose to ₦ 66.15 trillion from ₦ 66.18 trillion posted by Bourse on Wednesday.

The Benchmark All-Share Index (ASI) increased to 105,525.26 points from 105,515.99 points recorded on the previous day.

The extent of the negative market because 20 shares advanced and 32 shares declined, while 71 shares remained unchanged in 13,667 agreements.

African Prudential Insurance, Guinea Insurance, and Communication Daar led other gainers with 9.76%, 9.52%, and 8.33%growth respectively in prices closed at N15.75, N0.69 and N0.65 from N14.35, N0.63 and N0.60 per previous share.

Also read: Nigerian Equity Leads Developing Market Laggard with N240BN Losses

Livestock, PZ, and Mutual Benefits of Leading Other Prices with 10%, 9.97% and 9.35% Decreased stock prices to be closed on N7.20, N33.40 and N0.97 from N8.00, N37.10 and N1.07 per previous share.

In the volume index, Universal Insurance led trade with 49 million shares in 772 agreements followed by Zenith Bank who were traded 34 million shares in 876 transactions.

Royal Exchange traded 33 million shares in 64 agreements.

In the value index, GTCO traded shares worth N1.7 billion in 793 agreements followed by Zenith Bank who trade equity worth N1.6 billion in 876 agreements.

Shares traded by Uba worth N1.2 billion in 771 agreements.

By: Babajide Okeowo

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