NGX: Investors make N390bn in five hours

Investors in the Nigerian equities market gained N390 billion at the close of trading on Wednesday.

This followed a surge in the share prices of stocks such as Universal Insurance, Omatek and VFD Group, among others on the trading floor.

The benchmark All-Share Index (ASI) increased to 202,585.53 points from the 202,023.1 points recorded on the previous trading day.

After five hours of trading on the capital market, equity capitalisation increased to N130.4 trillion from N130 trillion posted by the bourse on Tuesday.

The market breadth was negative, with 22 stocks advancing, 32 declining, and 94 remaining unchanged in 52,723 deals.

A total of 1,006,999,472 shares were traded, valued at N40.5 billion.

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Universal Insurance, Omatek and VFD Group led the gainers’ chart, with 10%, 9.78% and 9.71% growth each in share prices, respectively, to close at N1.21, N2.47, and N11.30 per share, up from N1.10, N2.25, and N10.30 per share

UPDC REIT, FTG Insure and Deap Cap led other price decliners with a 10%, 9.92% and 9.85% dip each in price to close at N6.75, N1.18, and N5.40 per share, down from the previous N7.50, N1.31, and N5.99 per share.

On the volume index, Access Holding led trading with 232 million shares in 1,811 deals, followed by Fidelity Bank, which traded 113 million shares in 711 deals.

Wema Bank traded 103 million shares in 673 deals.

On the value index, Zenith Bank traded stocks valued at N6.4 billion in 3, 888 deals, followed by Access Holding, which traded equities worth N6 billion in 1,811 deals.

GTCO traded shares valued at N5.6 billion in 3, 787 deals.

Babajide Okeowo

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