NGX: Equity market returns from Salah holiday with N414 billion gain for investors

lInvestors in the Nigerian equity market gained N414 billion at the close of trading on Friday to return from the Eid holiday in bullish mode.

This follows a surge in the prices of shares such as Sovereign Insurance, Zichis and Intenegins, among others, on the stock exchange floor.

The benchmark All-Share Index (ASI) index increased to 250,385.47 points from 249,738.84 points on the previous trading day.

After five hours of trading on the capital market, equity capitalization rose to N160.5 trillion from N160 trillion recorded by the exchange on Tuesday.

Market breadth was positive, with 35 stocks advancing, 31 declining, and 82 stocks unchanged in 93,626 transactions.

A total of 1,204,653,414 shares were traded worth N43.4 billion.

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Sovereign Insurance, Zichis and Intenegins led the gainers chart, with share price growth of 10%, 10% and 9.98% respectively, closing at N2.75, N33.00 and N4.52 per share, up from N2.50, N30.00 and N4.11 per share.

Cap Plc, Austin Laz, and PremPaints led the rest of the price declines, dropping 10% each to close at N179.00, N3.96, and N33.75 per share, down from N199.00, N4.40, and N37.50 per share respectively.

On the volume index, Access Holding Co led trading with 110 million shares in 3,571 transactions, followed by TIP which traded 66 million shares in 3,023 transactions.

Chams traded 23 million shares in 1,352 transactions.

On the value index, Access Holding Co traded shares worth N2.6 billion in 3,571 transactions, followed by GTCO, which traded equities worth N2.5 billion in 5, 242 transactions.

Aradel traded shares worth N2.3 billion in 2,246 transactions.

Babajide Okeowo