Business
Nigeria’s equities market sustains bullish trading as investors gain N258bn
The Nigerian equities market sustained its bullish trading as investors raked in another N258 billion in profits at the close of business on Wednesday.
This followed a surge in the share prices of stocks like MRS OIL, LEARN AFRICA, and INTENEGINS among others on the trading floor.
After five hours of trading at the capital market, the equity capitalisation surged to N60.9 billion from N60.6 trillion recorded by the bourse on Tuesday.
The benchmark All-Share Index (ASI) increased to 100,477.46 from 100,050.94 points recorded the previous day.
The market breadth was positive as 42 stocks advanced and 18 stocks declined, while 59 stocks remained unchanged in 9, 573 deals.
MRS OIL, LEARN AFRICA, and INTENEGINS led other gainers with 9.99%, 9.97% and 9.77% growth each in share prices to close at N159.70, N3.53, and N1.46 from the previous N145.20, N3.21 and N1.33 per share.
READ ALSO: Equities market begins week on positive note as investors gain N331bn
AFRICAN PRUDENTIAL INSURANCE, JOHN HOLT, and GUINEA INSURANCE led other price decliners with 10%, 9.96%, and 8.33% decline each in share prices to close at N14.40, N6.51, and N0.66 from the previous N16.00, N7.23 and N0.72 per share.
On the volume index, STERLING BANK led trading with 43 million shares in 159 deals followed by FIDELITY BANK which traded 18 million shares in 267 deals.
UNIVERSAL INSURANCE traded 16 million shares in 59 deals.
On the value index, ARADEL traded stocks worth N1.5 billion in 592 deals followed by UBA which traded equities worth N874 billion in 624 deals.
OANDO traded shares valued at N706 million in 629 deals.
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