Nigeria’s stock market recovered when investors get the N240BN

Investors at the Nigerian equity market obtained N240 billion at the close of trade on Thursday.

This follows the surge in stock prices such as Abbey Mortgage Bank, Nigeran Breweries and ABC Transport, among others, on the trading floor.

After five hours of trading in the capital market, the capitalization of equity rose to ₦ 65.4 trillion from ₦ 65.2 trillion posted by Bourse on Wednesday.

The Benchmark All-Share Index (ASI) increased to 104,233.81 points from 103,851.88 points recorded on the previous day.

The extent of the negative market because 21 shares advanced, 24 shares declined, and 77 shares remained unchanged in 11,204 agreements.

Abbey Mortgage Bank, Nigerian Brewers, and ABC Transport led other strengthening with 9.94%, 9.86%, and 9.23%growth in the price closed at N8.96, N36.20 and N1.42 from the previous N8.15, N32.95 and N1.30 per share.

Sunu Assurance, Ellah Lakes, and Cornert lead other prices with 9.91%, 9.76%, and 9.44%decreased each in the stock price to be closed at N5.00, N3.05, and N2.59 from N5.55, N3.38, and N2.86 per previous share.

In the volume index, Universal Insurance led trade with 89 million shares in 127 agreements, followed by Fidelity Bank, which was traded 49 million shares in 456 transactions.

Access Corp is traded 32 million shares in 974 offers.

In the value index, MTNN traded shares worth N1.4 billion in 380 agreements, followed by Fidelity Bank, who trade equity worth N915 million in 456 agreements.

Access Corp traded shares worth N715 million in 974 agreements.

By: Babajide Okeowo

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