Equities market recovers as investors gain N172bn

The equities market reversed four days of consecutive losses this week with investors posting a N172 billion gain at the close of trading on Friday.

This followed the growth in share prices of Cutix, Learn Africa, and Caverton, amongst others on the trading floor today.

After five hours of trading at the capital market, the equity capitalization increased to N56.4 trillion from N56.2 trillion posted by the bourse on Thursday.

The All-Share Index (ASI) increased to 99,671.28 from 99,468.90 recorded the previous day.

The market breadth was negative as 21 stocks advanced and 22 declined, while 69 others remained unchanged in 7,617 deals.

Cutix, Learn Africa and Caverton led other gainers with 10 percent, 10 percent, and 8.97 percent growth in share price each to close at N4.62, N3.52, and N1.58 from the previous N4.20, N3.20, and N1.45 per share.

On the flip side, Redstarex, Daar communication, and Guinness led other price decliners as they shed 9.80 percent, 8.77 percent, and 7.14 percent each to close at N4.05, N0.52, and N65.00 from the initial N4.49, N0.57, and N70.00 per share

On the volume index, Fidelity Bank led trading with 96 million shares valued at N1.01 billion in 524 deals followed by Ellah Lakes which traded 46 million shares valued at N140 million in 60 deals.

GTCO traded 42 million shares valued at N1.94 billion in 223 deals.

On the value index, GTCO recorded the highest value for the day trading stocks worth N1.94 billion in 223 deals followed by FIDELITY BANK which traded equities worth N1.01 billion in 524 deals.

Access Corp traded stocks worth N501 million in 755 deals.