NGX: Investors gain N948bn in August first trading

Investors in the Nigerian equities market gained N948 billion at the close of trading on Friday.

This followed a surge in the share prices of stocks like UAC of Nigeria, Bua Cement Plc and Veritas Kapital Assurance Plc (among others, on the trading floor.

The benchmark All-Share Index (ASI) increased to 141,263.05 points from the 139,863.52 point recorded the previous day.

After five hours of trading at the capital market, the equity capitalisation rose to N89.3 trillion from N88.4 posted by the bourse on Thursday.

The market breadth was positive, with 39 stocks advancing, 32 stocks declining, and 86 stocks remaining unchanged in 34,488 deals.

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UAC of Nigeria, Bua Cement Plc and Veritas Kapital Assurance Plc led other gainers with 9.96%, 9.63% and 9.45 growth each in prices to close at N88.30, N148.00, and N1.39 from the previous N80.30, N135.00 and N148.00 per share.

Champions Breweries, Oando Plc and Dangote Sugar Plc led other price decliners with 10%, 10% and 10% decline each in share prices to close at N12.51, N53.10 and N66.15 from the previous N13.90, N59.00 and N73.50 per share.

On the volume index, First City Monument Bank (FCMB), led trading with 277 million shares in 936 deals, followed by Fidelity Bank Plc which traded 851 million shares in 931 deals.

Sterling Bank traded 58 million shares in 740 deals.

On the value index, Aradel Holding traded stocks valued at N3.2 billion in 798 deals, followed by Zenith Bank Plc which traded equities worth N2.9 billion in 1,421 deals.

FCMB traded shares valued at N2.8 billion in 936 deals.

By: Babajide Okeowo

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