NGX: Equity markets rise as investors rake in Rp178 billion

Nigeria’s equity market recovered from earlier losses on Thursday as investors gained N178 billion at the close of trading for the day.

This follows a surge in the prices of shares such as FBNH, CAVERTON, and FLOUR MILL among others on the trading floor.

After five hours of trading in the capital market, equity capitalization increased to N55.7 trillion from N55.5 trillion recorded by the exchange the previous day.

The benchmark All-Share Index (ASI) rose to 97,025.17 from 96,715.04.

Market breadth was positive as 26 stocks advanced and 22 stocks declined, while 67 stocks remained unchanged in 9,615 trades.

FBNH, CAVERTON and FLOUR MILL led the gainers with their share prices growing by 10%, 10% and 9.99% respectively to close at N26.40, N2.31 and N49.55 from N24.00, N2.10 and N45.05 per share respectively.

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On the other hand, DAAR COMMUNICATION, ETERNA, and UNIVERSAL INSURANCE led other price decliners as they fell by 8.86%, 8.14%, and 7.69% respectively to close at N0.72, N32.15, and N0.36 from initial prices of N0.79, N35.00, and N0.39 per share.

On the volume index, ACCESS CORP led the trade with 80 million shares worth N1.4 billion in 434 deals followed by FBNH which traded 51 million shares worth N1.3 billion in 476 deals.

UBA traded 31 million shares worth N745 million in 515 transactions.

On the value index, ACCESS CORP recorded the highest value for daily traded shares worth N1.4 billion in 434 transactions followed by FBNH which traded equities worth N1.3 billion in 476 transactions.

OANDO traded shares worth N811 million in 1,113 transactions.

By: Babajide Okeowo

NGX: Equity markets bounce as investors rake in N178 billion first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.