Equities market soars as investors gain N296bn in five hours

Investors in the Nigerian equities market gained N296 billion at the close of trading on Friday.

This followed a surge in the share prices of stocks like FLOUR MILL, JOHN HOLT, and EUNISELL amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalisation rose to N59.2 trillion from N58.9 trillion recorded by the bourse on Thursday.

The benchmark All-Share Index (ASI) increased to 97,722.28 from 97,233.07 recorded the previous day.

The market breadth was positive as 31 stocks advanced and 19 stocks declined, while 70 stocks remained unchanged in 8,433 deals.

Flour Mill, Eunisell, and John Holt led other gainers with 10 percent, 10 percent, and 9.97 percent growth each in share prices to close at N78.65, N11.99, and N7.72 from the previous N71.50, N10.90 and N7.02 per share.

Deapcap, Ikeja hotel, and Daar communication led other price decliners with 9.17 percent, 8.54 percent, and 6.45 percent decline each in share prices to close at N1.09, N7.50, and N0.58 from the previous N1.20, N8.20 and N0.58 per share.

On the volume index, Access Corp led trading with 33 million shares in 517 deals followed by Zenith Bank which traded 30 million shares in 362 deals.

Conhall PLC traded 20 million shares in 149 deals.

On the value index, Zenith Bank traded stocks worth N1.3 billion in 362 deals followed by Access Corp which traded equities worth N826 million in 517 deals.

Oando traded shares valued at N785 million in 480 deals.