Equities market continues to post strong performance as investors gain N138bn

Investors in the Nigerian equities market gained N138bn at the close of trading on Thursday.

This followed the surge in the share prices of stocks such as Neimeth, May & Baker, and E-Tranzact, among others, on the trading floor.

The benchmark All-Share Index (ASI) surged to 160,806.56 points from the 160,591.76 points recorded the previous trading day.

After five hours of trading at the capital market, the equity capitalisation surged to N102.8 trillion from N102.6 trillion posted by the bourse on Wednesday.

The market breadth was negative with 32 stocks advancing, 39 stocks declining, and 75 stocks remaining unchanged in 44,410 deals.

A total of 645,063,110 shares were traded, valued at N16.4 billion.

Neimeth, May & Baker, and E-Tranzact led the gainers’ chart with 10%, 9.85% and 9.64% growth in share prices, respectively, to close at N7.70, N26.20, and N13.65 per share, up from the previous N7.00, N23.85, and N12.45 per share.

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Intenegins, ABC Transport and Austin Laz led other price decliners with a 9.90%, 9.88%, and 9.84% dip each in share price to close at N2.73, N4.47, and N4.58 per share, down from the previous N3.03, N4.96, and N5.08 per share

On the volume index, Chams led trading with 60 million shares in 607 deals, followed by Linkage Assurance, which traded 54 million shares in 224 deals.

Tantalizer traded 44 million shares in 258 deals.

On the value index, Zenith Bank traded stocks valued at N1.5 billion in 1,870 deals, followed by Seplat, which traded equities worth N1.2 billion in 563 deals.

Unilever traded shares valued at N1.1 billion in 200 deals.

Babajide Okeowo

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