Business
NGX: Equities market maintains bullish trend with N98bn profit for investors
The Nigerian equities market maintained its bullish trend as investors gained N98 billion at the close of trading on Tuesday.
This followed the growth in the share prices of stocks like RED STAR EXPRESS, UNIVERSAL INSURANCE, and BETA GLASS amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization rose to ₦64.8 trillion from ₦64.7 posted by the bourse on Monday.
The benchmark All-Share Index (ASI) increased to 104,788.35 points from 104,630.30 points which were recorded the previous day.
The market breadth was positive as 36 stocks advanced and 23 stocks declined, while 63 stocks remained unchanged in 14,600 deals.
RED STAR EXPRESS, UNIVERSAL INSURANCE, and BETA GLASS led other gainers with 10%, 10%, and 9.98% growth each in prices to close at N5.50, N0.6,6, and N86.50 from the previous N5.00, N0.6,0 and N78.65 per share.
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IKEJA HOTEL, NEM Insurance, and SUNU ASSURANCE led other price decliners with 9.55%, 6.59%, and 6.14% dip in share prices to close at N9.95, N12.05 and N5.35 from the previous N11.00, N12.90 and N5.70 per share.
On the volume index, FBNH led trading with 83 million shares in 331 deals followed by ZENITH BANK which traded 29 million shares in 769 deals.
UNIVERSAL INSURANCE traded 24 million shares in 135 deals.
On the value index, GEREGU traded stocks worth N8.2 billion in 152 deals followed by FBNH which traded equities worth N2.4 billion in 331 deals.
ZENITH BANK traded shares valued at N1.4 billion in 769 deals.
By: Babajide Okeowo
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