NGX: Equity market starts week with N79 billion profit for investors

The equity market started the week on a positive note on Monday, September 23, 2024 as investors gained N79 billion at the close of trading on the floor of the Nigerian Exchange Group (NGX).

This follows a surge in stock prices such as MC Nichols, Fcmb, Fidelity Bank and others on the trading floor.

After five hours of trading in the capital market, equity capitalization increased to N56.54 trillion from N56.46 trillion recorded by the exchange on Friday last week.

The benchmark All-Share Index (ASI) also rose to 98,386.60 from 98,247.99 points last week.

The market breadth was positive as 32 stocks rose and 20 stocks fell, while 70 stocks remained unchanged in 10,699 trades.

MC Nichols, Fcmb, Fidelity BanK led other gainers with share price growth of 10%, 10% and 9.93% respectively to close at N1.87, N8.80 and N14.95 from N1.70, N8.00 and N13.60 per share previously.

ALSO READ: NGX: Investors start week with N51 billion loss as stocks plunge

On the other hand, Berger, Daarcomm, DEAPCAP led other price decliners as they fell by 9.83%, 9.33% and 9.09% respectively to close at N21.10, N0.68 and N0.90 from initial prices of N23.40, N0.75 and N0.99 per share.

On the volume index, Transcorp led the trade with 66 million shares worth N726 billion in 306 deals followed by Fidelity Bank which traded 43 million shares worth N640 million in 415 deals.

Access Corp traded 25 million shares worth N474 million in 821 deals.

On the value index, Transcorp recorded the highest value for daily traded shares worth N726 million in 306 transactions followed by Fidelity Bank which traded equities worth N640 million in 415 transactions.

OANDO traded shares worth N582 million in 717 transactions.

By: Babajide Okeowo

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