Equities market begins with N57b profit for investors

The Nigerian equities market began the week positively on Monday September 30, 2024 as investors gained N57bn at the end of trading on the floor of the Nigerian Exchange Group (NGX).

This followed a surge in the share prices of stocks like AFRIPRUD (Africa Prudential Plc), ABBEYBDS (Abbey Mortgage Bank Plc) and NSLTECH (Secure Electronic Technology) amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalization increased to N56.635 trillion from N56.578 trillion recorded by the bourse on Friday last week.

The benchmark All-Share Index (ASI) increased to 98,558.79 from 98,458.68 recorded the previous trading day.

The market breadth was positive as 32 stocks advanced and 22 stocks declined, while 63 stocks remained unchanged in 10, 378 deals.

AFRIPRUD, ABBEYBDS and NSLTECH led other gainers with 10 percent growth each in share prices to close at N9.90, N2.75, and N0.66 from the previous N9.00, N2.50, and N0.0 per share.

On the flip side, ELLAHLAKES (Ellah Lakes Plc), NEIMETH (Neimeth International Pharmaceuticals Plc) and ACADEMY (Academy Press) led other price decliners as they shed 9.96 percent, 9.81 percent, and 9.78 percent each to close at N4.43, N1.93 and N2.86 from the initial N4.92, N2.14, and N3.17 per share.

On the volume index, JAPAULGOLD led trading with 182 million shares valued at N463 million in 181 deals followed by UBA which traded 45 million shares valued at N1.2 billion in 339 deals.

ACCESSCORP traded 34 million shares valued at N707 million in 669 deals.

On the value index, UBA recorded the highest value for the day trading stocks worth N1.2 billion in 339 deals followed by ZENITH BANK which traded equities worth N825 million in 535 deals.

OANDO traded shares valued at N790 million in 833 deals.