NGX: Equity market continues to boom as investors gain N608bn

Investors in the Nigerian equities market gained N608 billion at the close of trading on Monday.

This followed a surge in the share prices of stocks such as NAHCO, Union Dicon and Fidelity Bank, among others on the trading floor.

The benchmark All-Share Index (ASI) increased to 218,113.84 points from the 217,167.57 points recorded on the previous trading day.

After five hours of trading on the capital market, equity capitalisation increased to N140.4 trillion from N139.8 trillion posted by the bourse on Friday.

The market breadth was positive, with 36 stocks advancing, 35 declining, and 77 remaining unchanged in 76,410 deals.

A total of 983,948,105 shares were traded, valued at N50.7 billion.

NAHCO, Union Dicon and Fidelity Bank led the gainers’ chart, with 10%, 10%, and 9.98% growth in share prices, respectively, to close at N242.00, N18.15, and N22.05 per share, up from N220.00, N16.50, and N20.05 per share.

Living Trust, Stanbic and Transpower led other price decliners, with 10%, 10%, and 9.97% declines, respectively, to close at N3.69, N169.70, and N272.70 per share, down from N4.10, N188.55, and N302.90 per share, respectively.

On the volume index, Access Holding led trading with 91 million shares in 3,761 deals, followed by First Holdco, which traded 70 million shares in 1,637 deals.

Zenith Bank traded 54 million shares in 5, 092 deals.

On the value index, Zenith Bank traded stocks valued at N7.0 billion in 5, 092 deals, followed by Aradel, which traded equities worth N6.6 billion in 2,988 deals.

MTNN traded shares valued at N5.4 billion in 5, 961 deals.

By Babajide Okeowo

The post NGX: Equity market continues to boom as investors gain N608bn appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.