NGX: Equity markets recover as investors rake in Rp172 billion

The equity market reversed four consecutive days of losses this week, with investors booking profits of N172 billion at the close of trading on Friday.

This follows the growth in share prices of CUTIX, LEARN AFRICA, and CAVERTON, among others, on the trading floor today.

After five hours of trading in the capital market, equity capitalization increased to N56.4 trillion from N56.2 trillion posted by the exchange on Thursday.

The All Share Index (ASI) increased to 99,671.28 from 99,468.90 recorded the previous day.

Market breadth was negative as 21 stocks rose and 22 stocks fell, while 69 stocks remained unchanged in 7,617 trades.

CUTIX, LEARN AFRICA and CAVERTON led the other gainers with share price growth of 10%, 10% and 8.97% respectively to close at N4.62, N3.52 and N1.58 from N4.20, N3.20 and N1.45 per share previously.

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

On the other hand, REDSTAREX, DAAR COMMUNICATION and GUINNESS led the other price decliners as they dropped by 9.80%, 8.77% and 7.14% respectively to close at N4.05, N0.52 and N65.00 from the initial prices of N4.49, N0.57 and N70.00 per share.

On the volume index, FIDELITY BANK led the trading with 96 million shares worth N1.01 billion in 524 deals followed by ELLAH LAKES which traded 46 million shares worth N140 million in 60 deals.

GTCO traded 42 million shares worth N1.94 billion in 223 transactions.

On the value index, GTCO recorded the highest value for daily traded shares worth N1.94 billion in 223 transactions followed by FIDELITY BANK which traded equities worth N1.01 billion in 524 transactions.

ACCESS CORP traded shares worth N501 million in 755 deals.

By: Babajide Okeowo

NGX post: Equity market recovers as investors rake in N172 billion appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.