NGX: Dangote Cement, NEM lead gainers as Investors made N497 billion in five hours

Investors in the Nigerian equity market earned N308 billion at the close of trading on Thursday.

This follows the soaring prices of shares such as Dangote Cement, NEM Insurance and Jaiz Bank Plc among others on the stock exchange floor.

The benchmark All-Share Index (ASI) jumped to 146,988.04 points from 146,204.33 points recorded the previous day.

After five hours of trading on the capital market, equity capitalization increased to N93.2 trillion from N92.7 trillion recorded by the exchange on Thursday.

Market breadth was positive with 24 stocks gaining, 25 stocks weakening, and 98 stocks unchanged in 21,842 transactions.

A total of 346,989,082 units of shares were traded, valued at N11.2 billion.

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Dangote Cement, NEM Insurance and Jaiz Bank Plc led other gainers with share price growth of 6.48%, 5.23% and 4.65% respectively to close at N575.00, N29.15 and N4.50 from the previous N540.00, N27.70 and N4.30 per share.

Union Homes Real Estate Inv, Meyer Plc, and Sterling Bank Plc led another price decline with share price drops of 9.98%, 9.85%, and 9.58% to close at N51.85, N15.10, and N7.55 per share, down from the previous N57.60, N16.75, and N8.35 per share.

On the volume index, Fidelity Bank Plc led trading with 47 million shares in 421 transactions, followed by Chams Plc which traded 38 million shares in 599 transactions.

Japaul Gold and Ventures traded 21 million shares in 226 transactions.

On the value index, Seplat traded shares worth N1.2 billion in 195 transactions, followed by Zenith Bank, which traded equities worth N1.2 billion in 1,038 transactions.

Dangote Cement traded shares worth N1.1 billion in 846 transactions.

Babajide Okeowo