NGX: Equity market recovers as investors gain N262 billion

Nigeria’s equity market recovered from earlier losses on Thursday with investors gaining N262 billion at the close of trade.

This follows the increase in share prices such as UCAP, OANDO, and AFRIPRUD among others on the trading floor today.

After five hours of trading in the capital market, equity capitalization increased to N56.9 trillion from N56.6 trillion posted by the exchange on Wednesday.

The All Share Index (ASI) rose to 100,503.21 from 100,032.32 recorded the previous day.

Market breadth was negative as 23 stocks rose and 29 stocks fell, while 62 stocks remained unchanged in 9,013 trades.

UCAP, OANDO and AFRIPRUD led the other gainers with share price growth of 9.92%, 9.76% and 9.55% respectively to close at N39.90, N18.55 and N9.75 from N36.30, N16.90 and N8.90 per share previously.

On the other hand, LINKAGE ASSURANCE, VERITASKAP, and VITAFOAM led other price decliners as they fell by 10%, 10%, and 9.67% respectively to close at N0.90, N1.08, and N19.15 from opening prices of N1.00, N1.20, and N21.20 per share.

On the volume index, GTCO led the trade with 39 million shares worth N1.80 billion in 663 deals followed by VERITASKAP which traded 39 million shares worth N36 million in 193 deals.

FCMB traded 31 million shares worth N242 million in 183 transactions.

On the value index, AIRTEL AFRICA recorded the highest value for daily equity trading worth N2.24 billion in 34 transactions followed by GTCO which traded equities worth N803 million in 663 transactions.

UBA traded shares worth N689 million in 547 transactions.

By: Babajide Okeowo

NGX post: Equity market recovers as investors rake in N262 billion appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.