NGX: Equity markets recovered, resulting in profits of ₦516 billion for investors

Investors in the Nigerian equity market earned N516 billion at the close of trading on Tuesday.

This follows a surge in the prices of shares such as Multiverse, Intenegins and Chams, among others, on the stock exchange floor.

The benchmark All-Share Index (ASI) index increased to 201,287.78 points from 200,484.43 points on the previous trading day.

After five hours of trading on the capital market, equity capitalization fell to N129.2 trillion from N128.6 trillion recorded by the exchange on Monday.

Market breadth was positive, with 50 stocks advancing, 20 declining, and 78 unchanged in 53,436 trades.

A total of 887,682,684 shares were traded worth N35.5 billion.

Multiverse, Intenegins and Chams led the gainers chart, with share price growth of 9.88%, 9.49% and 8.40% respectively, closing at N18.35, N3.23 and N4.39 per share, up from N16.70, N2.95 and N4.05 per share.

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NPF Micro Finance Bank, Sky Aviation and Zichis led other price decliners with price drops of 10%, 9.97% and 9.96% respectively to close at N6.30, N143.10 and N13.65 per share, down from the previous N7.00, N158.95 and N15.16 per share.

On the volume index, Wema Bank led trading with 183 million shares in 567 transactions, followed by VFD Group which traded 103 million shares in 270 transactions.

Secure Electronics traded 59 million shares in 607 transactions.

On the value index, MTN Nigeria traded shares worth N12 billion in 4,186 transactions, followed by Wema Bank, which traded equities worth N4.7 billion in 572 transactions.

GTCO traded shares worth N2.7 billion in 2,133 transactions.

Babajide Okeowo