NGX: Equity markets recover as investors gain Rp117 billion

Nigeria’s equity market recovered from trading losses on Thursday as investors gained N117 billion at the close of trading for the day.

This follows the rise in share prices of the likes of Oando, Julius Berger and Cornerstone, among others on the trading floor.

After five hours of trading in the capital market, equity capitalization jumped to N55.3 trillion from N55.2 trillion recorded by the bourse on Wednesday.

The All Share Index (ASI) also increased to 96,407.88 from 96,203.65.

The market breadth was positive, with 25 stocks rising and 23 stocks falling, while 70 stocks remained unchanged in 9,851 transactions.

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Oando, Julius Berger and Cornerstone led other gainers with share price growth of 9.98%, 9.97% and 9.88% respectively to close at N69.95, N172.60 and N2.78 from N63.60, N156.95 and N2.53 per share respectively.

On the other hand, Scoa, Japaul Gold and Tantalizers led the other price decliners as they fell by 9.79%, 7.41% and 6.76% respectively to close at N1.75, N2.50 and N0.69 from initial prices of N1.94, N2.70 and N0.74 per share.

On the volume index, CONHALLPLC led the trade with 505 million shares worth N673 million in 61 deals followed by FBNH which traded 64 million shares worth N1.410 billion in 294 deals.

ACCESS CORP traded 46 million shares worth N890 million in 423 transactions.

On the value index, FBNH recorded the highest value for daily traded shares worth N1.4 billion in 294 transactions followed by ACCESS CORP which traded equities worth N890 million in 423 transactions.

GTCO traded shares worth N699 million in 351 transactions.

By: Babajide Okeowo

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