NGX: Equity market closes week with N20 billion gain for investors

Nigeria’s equity market ended the week with a gain of N20 billion for investors on Friday.

This follows the increase in stock prices such as SOVRENINS, CUSTODIAN, and NAHCO among others on the trading floor today.

After five hours of trading in the capital market, equity capitalization increased to N56.92 trillion from N56.90 trillion posted by the exchange on Thursday.

The All Share Index (ASI) rose to 100,539.40 from 100,503.21 recorded the previous day.

Market breadth was negative as 16 stocks rose and 28 stocks fell, while 71 stocks remained unchanged in 9,988 trades.

SOVRENINS, CUSTODIAN, and NAHCO led other gainers with share price growth of 4.26%, 4.17%, and 3.41% respectively to close at N0.49, N10.00, and N39.40 from N0.47, N9.60, and N38.10 per share previously.

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On the other hand, CUTIX, ABC TRANS and TANTALIZER led other price decliners as they fell by 8.55%, 8.33% and 8.16% respectively to close at N5.99, N0.77 and N0.45 from initial prices of N6.55, N0.84 and N0.49 per share.

On the volume index, FCMB led the trade with 114 million shares worth N869 million in 218 deals followed by JAIZ BANK which traded 103 million shares worth N224 million in 151 deals.

UCAP traded 56 million shares worth N2.29 billion in 1,480 deals.

On the value index, UCAP recorded the highest value for daily traded equities worth N2.29 billion in 1480 transactions followed by GTCO which traded equities worth N1.69 billion in 521 transactions.

ZENITH BANK traded shares worth N1.09 billion in 569 deals.

By: Babajide Okeowo

NGX: Equity market ends week with N20 billion gain for investors first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.