NGX: Investors return to equity market as investors earn N140 billion

Investors in the Nigerian capital market gained N140 billion at the close of trading on Friday.

This follows a surge in the prices of shares such as Fidson, Meyer and Caverton among others on the trading floor.

After five hours of trading in the capital market, equity capitalization increased to N56.4 trillion from N56.3 trillion recorded by the bourse on Thursday.

The benchmark All-Share Index (ASI) rose to 98,247.99 points from 98,003.75.

Market breadth was positive as 35 stocks advanced and 21 stocks declined, while 62 stocks remained unchanged in 8,670 trades.

Fidson, Meyer, Caverton led other gainers with share price growth of 10%, 9.98% and 9.82% respectively to close at N15.95, N7.05 and N3.69 from N14.50, N6.41 and N3.36 per share previously.

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On the other hand, FBNH, NNFM, NIDF led other price decliners as they fell by 9.98%, 9.96% and 9.93% respectively to close at N27.50, N35.25 and N101.60 from initial prices of N30.55, N39.15 and N112.80 per share.

On the volume index, FBNH led the trading with 68 million shares worth N2 billion in 723 deals followed by JAPAUL GOLD which traded 149 million shares worth N391 million in 101 deals.

FIDELITY BANK traded 26 million shares worth N354 million in 463 transactions.

On the value index, FBNH recorded the highest value for daily traded equities worth N2 billion in 723 transactions followed by OANDO which traded equities worth N689 million in 573 transactions.

UACN traded shares worth N537 million in 149 transactions.

By: Babajide Okeowo

NGX: Bulls return to equity market as investors rake in N140 billion first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.