NGX: The equity market recovered because investors get the N279BN

Investors in the Nigerian equity market obtained the N279 billion at the close of trade on Thursday.

This follows the surge in stock prices such as Mecure Industries, Oando PLC, and MC Nichols, among others, on the trading floor.

The Benchmark All-Share Index (ASI) jumped to 141,157.49 points from 140,716.10 points recorded on the previous day.

After five hours of trading in the capital market, the capitalization of equity increased to N89.3 trillion from N89 Trillion posted by Bourse on Wednesday.

The extent of the positive market with 34 advanced shares, 22 shares declined, and the remaining 91 shares did not change in 20,399 offers.

Also read: NGX: Bearish sentiment remains in the stock market because investors lose N367BN

Mecure Industries, Oando PLC, and MC Nichols led other strengthening with 9.89%, 9.50% and 9.31% of stock price growth to be closed on N26.10, N49.00, and N3.64 from the previous N23.75, N44.75, and N3.33 per share.

Eterna PLC, Sovereign Insurance PLC, and Initiates Place led other prices with 10% 4.84%, and 3.84% of stock price declines to be closed in N27.90, N2.95, and N12.02 per share, down from N31.00 before, N3.10, and N3.20 per share.

In the volume index, Hallmark consolidation led trade with 333 million shares in 103 agreements, followed by Sterling Bank, which was traded 104 million shares in 513 agreements.

Zenith Bank PLC trades 45 million shares in 1,094 offers.

In the value index, MTN Nigeria traded shares worth N5 billion in 1,106 agreements, followed by Zenith Bank PLC, who traded equity worth N3.1 billion in 1,094 agreements.

Presco PLC traded shares worth N2.4 billion in 304 agreements.

Babajide Okeowo