NGX: Equity market closes week on uptrend as investors rake in N219 billion

Nigeria’s equity market reversed a multi-day downtrend as investors gained N219 billion at the close of trading on Friday.

This follows the growth in share prices of stocks such as MAY&BAKER, OKOMU OIL and OANDO, among others, on the trading floor today.

After five hours of trading in the capital market, equity capitalization rose to N55.5 trillion from N55.2 trillion recorded by the bourse on Thursday.

The All Share Index (ASI) also increased to 97,745.73 from 97,359.76 recorded the previous day.

Market breadth was positive as 36 stocks rose and 10 stocks fell, while 70 stocks remained unchanged in 6,603 trades.

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MAY & BAKER, OKOMU OIL and OANDO led the other gainers with their share prices growing by 10% to close at N7.04, N321.20 and N25.30 respectively from N6.40, N292.00 and N23.00 per share respectively.

On the other hand, MECURE, THOMASWY and WAPIC led the other price decliners as they fell by 9.82%, 9.09% and 9.09% respectively to close at N7.35, N0.70 and N0.50 from initial prices of N8.15, N0.77 and N0.55 per share.

On the volume index, OANDO led the trade with 14 million shares worth N371 million in 341 deals followed by ZENITH BANK which traded 13 million shares worth N489 million in 383 deals.

VERITASKAP traded 11 million shares worth N11 million in 97 transactions.

On the value index, UBA recorded the highest value for daily traded shares worth N752 million in 470 transactions followed by ZENITH BANK which traded equities worth N489 million in 383 transactions.

MTN Nigeria traded shares worth N435 million in 522 transactions.

NGX: Equity market closes week on a bullish trend as investors rake in N219 billion first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.