Business
NGX: Equities market rebounds as investors gain N30bn in five hours
The Nigerian equities market rebounded from previous day’s with a N30 billion gain for investors at the close of trading on Thursday.
This followed a surge in the share prices of stocks like AFRICAN PRUDENTIAL INSURANCE, GUINEA INSURANCE and DAAR COMMUNICATION amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization rose to ₦66.15 trillion from ₦66.18 trillion posted by the bourse on Wednesday.
The benchmark All-Share Index (ASI) increased to 105,525.26 points from 105,515.99 points recorded the previous day.
The market breadth was negative as 20 stocks advanced and 32 stocks declined, while 71 stocks remained unchanged in 13,667 deals.
AFRICAN PRUDENTIAL INSURANCE, GUINEA INSURANCE, and DAAR COMMUNICATION led other gainers with 9.76%, 9.52%, and 8.33% growth each in prices to close at N15.75, N0.69 and N0.65 from the previous N14.35, N0.63 and N0.60 per share.
READ ALSO: Nigerian equities lead emerging markets’ laggards with N240bn loss
LIVESTOCK, PZ, and MUTUAL BENEFIT led other price decliners with 10%, 9.97% and 9.35% dip in share prices to close at N7.20, N33.40 and N0.97 from the previous N8.00, N37.10 and N1.07 per share.
On the volume index, UNIVERSAL INSURANCE led trading with 49 million shares in 772 deals followed by ZENITH BANK which traded 34 million shares in 876 deals.
ROYAL EXCHANGE traded 33 million shares in 64 deals.
On the value index, GTCO traded stocks worth N1.7 billion in 793 deals followed by ZENITH BANK which traded equities worth N1.6 billion in 876 deals.
UBA traded shares valued at N1.2 billion in 771 deals.
By: Babajide Okeowo
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
SPECIAL REPORT: In Sokoto, classrooms overtaken by goats, reptiles, as insecurity, lack of teachers, govt inaction push children out of school
SHEHU MUHAMMAD SHEHU reports on how insecurity, government inaction and lack of qualified teachers has significantly forced up the number...
INVESTIGATION: Abia residents in pains, as contractor abandons erosion control project after collecting N185m
Fresh from fashion school in 2022, Onuka Kalu planned to convert one of his father’s two shops, where he formerly...
Trump halts $50m Gaza aid, cites ‘condoms in Gaza’ claim
In a sweeping move to reassess U.S. foreign aid spending, President Donald Trump has frozen a $50 million assistance package...
INVESTIGATION: In Zamfara, forgotten Health Center throws community into health crisis
In the late evening of Friday, September 14, 2024, shortly after the Maghrib prayer, Bashir Muhammad, a 34-year-old father of...
INVESTIGATION: Insufficient teachers, learning materials worsen education access in Kwara communities
Qudus, a Junior Secondary School (JSS 2) pupil, would sit the Basic Education Certificate Examination (BECE) in a year to...