Equities market begins week on positive note as investors gain N172bn

The equities market got off to a positive start on Monday July 15, 2024 as investors gained N172bn at the end of the trading session.

This follows an increase in the share prices of stocks like Cutix, Ikeja Hotel and Royalex amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalization increased to N56,608 trillion from N56,440 trillion posted by the bourse on Friday, July 12, 2024.

The All-Share Index (ASI) increased to 99,966.28 from 99,671.28 recorded the previous trading day.

The market breadth was positive as 29 stocks advanced and 14 stocks declined, while 70 stocks remained unchanged in 8,405 deals.

Cutix, Ikeja Hotel and Royalex led other gainers with 9.96 percent, 9.45 percent and 8.96 percent growth in share price each to close at N5.08, N6.95, and N0.73 from the previous prices of N4.62, N6.35, and N0.67 per share.

On the flip side, Abbeybds, Jaizbank and Ellahlakes led other price decliners as they shed 7.04 percent, 5.78 percent, and 5.36 percent each to close at N2.51, N2.12, and N3.00 from the initial prices of N2.70, N2.25, and N3.17 per share.

FCMB traded 26m shares valued at N203mn in 159 deals.

On the value index GTCO recorded the highest value for the day trading stocks worth N3.047bn in 432 deals followed by Accesscorp which traded equities worth N854m in 878 deals.

Zenithbank traded stocks worth N589mn in 473 deals.