NGX: Equity market maintains bullish trend as investors earn N577 billion

Nigeria’s equity market maintained its positive trend on Thursday as investors earned N577 billion at the close of trading for the day.

This follows the increase in share prices of several stocks such as MTNN, VITAFOAM, and UNILEVER among others on the trading floor today.

After five hours of trading in the capital market, equity capitalization rose to N55.7 trillion from N55.1 trillion recorded by the bourse on Wednesday.

The All Share Index (ASI) also increased to 98,116.27 from 97,098.98 recorded the previous day.

Market breadth was positive as 32 stocks rose and 19 stocks fell, while 63 stocks remained unchanged in 9,059 trades.

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MTNN, VITAFOAM and UNILEVER led the gainers with their share prices increasing by 10% to close at N198.00, N19.25 and N18.70 respectively from N180.00, N17.50 and N17.00 per share respectively.

On the other hand, UCAP, ABBEYBDS and STERLINGNG led the other price decliners as they fell by 9.94%, 8.05% and 5.66% respectively to close at N14.50, N2.40 and N4.00 from opening prices of N16.10, N2.61 and N4.24 per share.

On the volume index, ACCESS CORP led the trading with 115 million shares worth N2.2 billion in 662 deals followed by GTCO which traded 109 million shares worth N5.0 billion in 409 deals.

ABBEYBDS traded 50 million shares worth N121 million in 17 transactions.

On the value index, GTCO recorded the highest value for daily traded shares worth N5.0 billion in 409 transactions followed by ACCESS CORP which traded equities worth N2.2 billion in 662 transactions.

SEPLAT traded shares worth N1.59 billion in 50 deals.

By: Babajide Okeowo

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