NGX: Equities market continues recovery as investors gain N1.6trn

Investors in the Nigerian equities market gained N1.68 trillion at the close of trading on Thursday.

This followed the surge in the share prices of stocks such as Deap Cap, Okomu Oil, and FTG Insure led, among others, on the trading floor.

The benchmark All-Share Index (ASI) increased to 193,073.57 points from the 190,427.96 points recorded on the previous trading day.

After five hours of trading at the capital market, the equity capitalisation increased to N123.9 trillion from N122.2 trillion posted by the bourse on Wednesday.

The market breadth was negative, with 34 stocks advancing, 52 declining, and 26 remaining unchanged in 61,953 deals.

A total of 898,481,215 shares were traded, valued at N38.4 billion.

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Deap Cap, Okomu Oil, and FTG Insure led the gainers’ chart, with 10% growth in share prices, respectively, to close at N6.93, N1459.70, and N0.55 per share, up from N6.30, N1327.00, and N0.50 per share.

Triple G, Multiverse, and Secure Electronics led other price decliners with a 10% dip each in price to close at N5.40, N25.20, and N1.80 per share, down from the previous N6.00, N28.00, and N2.00 per share

On the volume index, Japaul Gold led trading with 80 million shares in 263 deals, followed by Secure Electronics, which traded 71 million shares in 1,470 deals.

Mutual Benefit traded 58 million shares in 732 deals.

On the value index, Guaranty Trust Holding Co traded stocks valued at N6.1 billion in 2, 099 deals, followed by MTN Nigeria, which traded equities worth N5.5 billion in 4,758 deals.

Zenith Bank traded shares valued at N4.5 billion in 2,645.

By: Babajide Okeowo

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