NGX: Cornerstone, RT Briscoe, IMG boost equity market as investors rake in N131bn

Nigeria’s equity market maintained its uptrend as investors earned N131 billion at the end of trading on Wednesday.

This follows the increase in share prices of CORNERSTONE, RT BRISCOE and IMG among others on the trading floor today.

After five hours of trading in the capital market, equity capitalization increased to N56.7 trillion from N56.6 trillion posted by the exchange on Tuesday.

The All Share Index (ASI) rose to 100,299.48 from 100,067.77 recorded the previous day.

Market breadth was positive, with 28 stocks advancing and 19 falling, while 76 remained unchanged in 7,592 trades.

CORNERSTONE, RT BRISCOE and IMG led other gainers with share price growth of 9.57%, 9.37% and 9.24 respectively to close at N2.29, N0.70 and N13.00 from N2.09, N0.64 and N11.50 per share previously.

On the other hand, UPL, DAARCOMM, and OMATEK led the other price decliners as they fell by 10%, 5.88%, and 5.80% respectively to close at N2.25, N0.48, and N0.65 from initial prices of N2.50, N0.51, and N0.69 per share.

On the volume index, FIDELITY BANK led the trade with 137 million shares worth N1.418 billion in 585 deals followed by UNIVINSURE which traded 21 million shares worth N8 million in 79 deals.

AIICO traded 14 million shares worth N15 million in 118 transactions.

On the value index, FIDELITY BANK recorded the highest value for daily traded equities worth N1.41 billion in 585 transactions followed by MTN Nigeria which traded equities worth N503 million in 295 transactions.

GTCO traded shares worth N435 million in 393 transactions.

By: Babajide Okeowo

NGX: Cornerstone, RT Briscoe, IMG boost equity markets as investors rake in N131 billion first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.