NGX: May & Baker Tops Gainers as Pocket N486BN investors in five hours

Investors in the Nigerian equity market obtained N486 billion at the close of trade on Friday.

This follows the surge in stock prices such as May & Baker PLC, Infinity Trust Mortgage Bank, and Living Trust Mortgage Bank, among others, on the trading floor.

The Benchmark All-Share Index (ASI) increased to 115,429.54 points from 114,659.11 points recorded the previous day.

After five hours of trading in the capital market, the capitalization of equity rose to N72.7 trillion from N72.3 trillion posted by Bourse on Wednesday.

The extent of the market is positive because 51 shares advanced, 24 shares declined, and 49 shares remain unchanged in 20,500 offers.

May & Baker PLC, Infinity Trust Mortgage Bank, and Living Trust Mortgage Bank leads other acquisitions with 10% growth in the price closed at N15.40, N7.70, and N5.72 from N14.00, N7.00, and N5.20 per previous share.

Also read: NGX: Investors make N353M as Oando, Chellarms, Transcorp Push Up Stock Market

Northern Nigeria flour, CONOIL PLC, and NIGERIAN AMEELWARE PLC led other prices with 10%, 9.99%, and 9.98%of stock prices to be closed in N112.55, N241.50, and N18.50 from N125.05 Previously, N268.30, and N18.50 from N125.05, N268.30, and N18.5.

On the volume index, Tantalizers PLC led trade with 420 million shares in 202 agreements, followed by a guarantee of Trust Holding (GTCO), which was traded 35 million shares in 716 offers.

Zenith Bank PLC trades 34 million shares in 942 agreements.

In the value index, GTCO traded shares worth N2.5 billion in 716 agreements, followed by Zenith Bank PLC, who traded equity worth N1.7 billion in 942 transactions.

STANBIC IBTC PLC is traded by shares worth N1.4 billion in 105 agreements.

By: Babajide Okeowo