Investors close week with N49bn profit

Investors in the Nigerian equities market went home with N49 billion at the end of trading on Friday.

This followed an increase in the share price of CHAMS, ETI, and INTENEGINS, amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalisation surged to N56.12 trillion from N56.08 trillion posted by the bourse on Thursday.

Similarly, the All-Share Index (ASI) increased to 99,222.33 from 99,300.38 recorded the previous day.

The market breadth was positive as 21 stocks advanced, 17 declined, while 84 others remained unchanged in 7,106 deals.

CHAMS, ETI, and INTENEGINS led other gainers with 10 percent, 8.41 percent, and 6.99 percent growth in share price to close at N1.54, N23.85, and N1.53 from the previous N1.40, N22.00, and N1.43 per share.

On the flip side, ROYAL EXCHANGE, PRESTIGE, and VERITASKAP led other price decliners as they shed 9.68 percent, 9.09 percent, and 8.70 percent each to close at N0.56, N0.50, and N0.63 from the initial N0.62, N0.55, and N0.69 per share.

On the volume index, banking stocks carried the day with ACCESS CORP trading 81.028 million shares valued at N1.394 billion in 458 deals followed by ZENITH BANK which traded 43.241 million shares worth N1.427bn million shares in 505 deals.

FIDELITY BANK traded 34.961 million shares valued at N326 million in 272 deals.

On the value index, ZENITH BANK recorded the highest value for the day trading stocks worth N1.427 billion in 505 deals followed by ACCESS CORP which traded equities worth N1.394 billion in 458 deals.

NB traded stocks worth N908 million in 108 deals.