NGX: Equity market maintains gains as investors rake in N444 billion

Investors in the Nigerian equity market went home with N444 billion at the close of trading on Wednesday.

This follows the growth in stock prices of stocks such as SFSREIT (Skye Shelter Fund), HONEY FLOUR (Honeywell Flour Mill), and MEYER (Meyer Plc) among others on the trading floor.

After five hours of trading in the capital market, equity capitalization increased to N56.4 trillion from N56.00 trillion recorded by the bourse on Tuesday.

The benchmark All-Share Index (ASI) rose to 98,230.92 from 97,685.64.

Market breadth was positive as 27 stocks advanced and 25 stocks declined, while 65 stocks remained unchanged in 9,627 trades.

SFSREIT, HONEY FLOUR and MEYER led other gainers with share price growth of 9.99%, 9.96% and 9.95% respectively to close at N179.45, N5.41 and N6.41 from N163.15, N4.92 and N5.83 per share previously.

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On the other hand, NNFM (Northern Nigeria Flour Mills Plc), BERGER (Berger Paints) and DEAPCAP (Deap Capital Management & Trust) led other price decliners as they fell by 10%, 9.81% and 9.68% respectively to close at N39.15, N21.60 and N0.84 from opening prices of N43.50, N23.95 and N0.93 per share.

On the volume index, JAPAUL GOLD led the trade with 64 million shares worth N166 million in 225 deals followed by FBNH which traded 26 million shares worth N840 million in 726 deals.

UBA traded 25 million shares worth N618 million in 445 transactions.

On the value index, GEREGU recorded the highest value for daily traded equities worth N1.3 billion in 259 transactions followed by FBNH which traded equities worth N840 million in 726 transactions.

OANDO traded shares worth N661 million in 796 transactions.

By: Babajide Okeowo

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