Investors close week with N52bn profit

Investors in the Nigerian equities market ended the week’s trading with a N56 billion loss on Friday.

This followed the dip in the share price of stocks like MULTIVERSE, RTBRISCOE, and SUNUASSUR amongst others on the trading floor today.

After five hours of trading at the capital market, the equity capitalisation crashed to N56.42 trillion from N56.47 trillion posted by the bourse on Thursday.

The All-Share Index (ASI) decreased to 99,743.05 from 99,842.94 recorded the previous trading day.

The market breadth was positive: 31 stocks advanced, 17 declined, while 74 others remained unchanged in 7,302 deals.

Guinness, Etranzact, and Unity bank led other gainers with 9.95 percent, 9.89 percent and 9.84 percent growth in share price to close at N60.25, N5.00, and N1.34 from the previous N54.80, N4.55, and N1.22 per share.

On the flip side, Academy, CWG, and Prestige led other price decliners as they shed 9.85 percent, 9.40 percent, and 5.56 percent each to close at N1.83, N0.55, and N0.51 from the initial N2.03, N5.85, and N0.54 per share.

On the volume index, Sterling NG led trading with 42.259 million shares valued at N1.75 billion in 94 deals followed by Zenith bank which traded 28.033 million shares in 482 deals worth N1.008 billion.

Fidelity bank traded 25.104 million shares valued at N2.48 billion in 192 deals.

On the value index Zenith bank recorded the highest value for the day trading stocks worth N1.008 billion in 482 deals followed by GTCO which traded equities worth N635 million in 313 deals.

SEPLAT traded stocks worth N438 million in 72 deals.