NGX: The equity market recovered from the bearish trade when investors get the N378BN

Investors at the Nigerian equity market obtained N378 billion at the close of trade on Wednesday.

This follows the surge in stock prices such as Deap Capital Management & Trust), John Holt PLC and Dangote Sugar, among others, on the trading floor.

The All-Share Index (ASI) benchmark increased to 120,339.9 points from 119,741.23 points recorded the previous day.

After five hours of trading in the capital market, the capitalization of equity increased to N76.1 trillion from N75.8 trillion posted by Bourse on Tuesday.

The extent of the positive market, with 61 advanced shares, 15 shares declined, and 72 shares remaining unchanged in 21,964 agreements.

Nigerian intelligent products, Omatek Ventures, and International Energy Insurance lead other acquisitions with 10% growth in the price closed on N0.66, N0.88 and N1.98 from N0.60, N0.80 and N1.80 per previous share.

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

Deap Cotusit Management & Trust, John Holt Limited and Dangote Sugar led other prices with 9.09%, 5.41% and 5.32% of stock price declines to be closed at N1.00, N7.00 and N44.50 from N1.10, N7.40 and N47.00 per previous share.

On the volume index, the Royal Exchange Assurance led the trade with 218 million shares in 117 agreements, followed by the Japaul Gold and Ventures PLC, which was traded by 174 million shares in 458 agreements.

Ellah Lakes PLC trade 83 million shares in 1,111 offers.

In the value index, the shares of the Wema Bank PLC which were traded worth N1 billion in 270 agreements, followed by Nigerian Brewers PLC, who traded equity worth N1 billion in 270 agreements.

Zenith Bank PLC trades shares worth N975 million in 838 agreements.

By: Babajide Okeowo