NGX Equity Market Bounces Back With Investors N144bn Profit

NGX Records N60bn Trading

N144 billion was gained by the Nigerian equities market on Thursday, offsetting its Tuesday loss, helped by gains from Nigerian Breweries, Unity Bank, NEM Insurance, and 27 other companies.

Following Wednesday’s Democracy Day holiday, the market finished with capitalization and the All Share index up 0.2% to conclude at N56.47tn and 99,832.25 points, respectively.

A lower level of activity was indicated by the volume and value exchanged, which fell by 40.80% and 47.72%, respectively, to 502.60 million units and N8.65 billion. Deals increased by 20% to 9,686 from 99630.51, however.

At the end of the trading session, a total of 502.6 million shares, valued at N8.65 billion, were moved in 9,686 deals. Bullish activity dominated the day’s trade with the exchange recording 30 gainers and 18 losers.

The gainers’ chart was led by Nigerian Breweries with a 10 per cent appreciation to N31.90, Unity Bank rose by 9.91 per cent to close at N1.22 and NEM Insurance gained 9.77 per cent to close trading at N9.55.

The top losers were Ecobank Transnational, which lost 9.92 per cent to close at N21.35, Daar Communications shed 8.77 per cent to close at N0.52 and C&I Leasing lost 7.14 per cent to N2.60.

Zenith Bank had the most volume with 71.2 million traded shares, followed by AIICO Insurance with 67.3 million shares and Access Holdings with 58.5 million shares.

Other indices that appreciated were the insurance companies, banking industry, pension industry and consumer goods industry.

The local bourse lost N92.32bn on Tuesday due to the dip in National Salt Company, Thomas Wyatt Nigeria May Baker Nigeria and 16 other stocks.

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