Business
NGX: Equities market recovers as investors gain N262bn
The Nigerian equities market rebounded from previous losses on Thursday with investors gaining N262 billion at the close of the trading.
This followed an increase in the share prices of stocks like UCAP, OANDO, and AFRIPRUD amongst others on the trading floor today.
After five hours of trading at the capital market, the equity capitalization increased to N56.9 trillion from N56.6 trillion posted by the bourse on Wednesday.
The All-Share Index (ASI) increased to 100,503.21 from the 100,032.32 recorded the previous day.
The market breadth was negative as 23 stocks advanced and 29 declined, while 62 others remained unchanged in 9,013 deals.
UCAP, OANDO, and AFRIPRUD led other gainers with 9.92%, 9.76%, and 9.55% growth in share price each to close at N39.90, N18.55, and N9.75 from the previous N36.30, N16.90, and N8.90 per share.
On the flip side, LINKAGE ASSURANCE, VERITASKAP and VITAFOAM led other price decliners as they shed 10%, 10%, and 9.67% each to close at N0.90, N1.08, and N19.15 from the initial N1.00, N1.20, and N21.20 per share.
READ ALSO: NGX: Zenith Bank leads trading as investors gain N62bn
On the volume index, GTCO led trading with 39 million shares valued at N1.80 billion in 663 deals followed by VERITASKAP which traded 39 million shares valued at N36 million in 193 deals.
FCMB traded 31 million shares valued at N242 million in 183 deals.
On the value index, AIRTEL AFRICA recorded the highest value for the day trading stocks worth N2.24 billion in 34 deals followed by GTCO which traded equities worth N803 million in 663 deals.
UBA traded stocks worth N689 million in 547 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...