NGX: The equity market supports bullish sentiment because investors get the N360BN

The Nigerian equity market experienced previous profits with N360 billion profit for investors on Wednesday.

This follows the surge in stock prices such as Chellarams PLC, FTN Cocoa, and Berger Paints, among others, on the trading floor.

The All-Share Index (ASI) benchmark rose to 140,365.36 points from 139,796.11 points recorded the previous day.

After five hours of trading in the capital market, the capitalization of equity increased to N88.8 trillion from N88.4 trillion posted by Bourse on Tuesday.

The extent of the positive market with 37 advanced shares, 26 shares declined, and the remaining 84 shares did not change in 24,837 agreements.

Cat Chellarams PLC, FTN Cocoa, and Berger lead other growth with growth of 10%, 10% and 9.86% each in stock prices to be closed on N12.10, N5.94, and N39.00 from N11.00, N5.40, and N35.50 per previous share.

May and Baker PLC, Union Dicon Salt, and C&I Leasing PLC led other prices with a decrease in stock prices of 9.97%, 9.72% and 7.69% to be closed at N16.25, N9.75, and N6.00 per share, down from the previous N18.05, N10.80, and N6.50 per share.

Also read: NGX: Bearish sentiment remains in the stock market because investors lose N367BN

In the volume index, the First City Monument Bank led the trade with 287 million shares in 559 agreements, followed by Nigerian Breweries PLC, which was traded by 50 million shares in 283 agreements.

Aradel Holdings trade 43 million shares in 545 agreements.

In the value index, Aradel Holdings traded shares worth N23.0 billion in 545 agreements, followed by Nigerian Brewers PLC, who traded equity worth N3.5 billion in 283 agreements.

The first city monument bank traded shares worth N3.1 billion in 559 offers.

Babajide Okeowo