Market capitalisation crosses N60trn mark as investors gain N375bn

The Nigerian equities market capitalisation crossed the N60 trillion mark at the close of trading on Friday.

This followed the surge in the share prices of stocks like Aradel, Caverton, and Ikeja Hotel amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalization rose by N375 billion to N60.2 trillion from N59.8 trillion recorded by the bourse on Thursday.

The benchmark All-Share Index (ASI) increased to 99,378.06 from 98,760.59 recorded the previous day.

The market breadth was positive as 37 stocks advanced and 14 stocks declined, while 72 stocks remained unchanged in 8,464 deals.

Aradel, Caverton, and Ikeja Hotel led other gainers with 10% growth each in share prices to close at N550.00, N1.98, and N8.80 from the previous N500.00, N1.80 and N8.00 per share.

Austin Laz, ABC Transport, and Royalex led other price decliners with 10%, 8.00%, and 7.69% decline each in share prices to close at N1.62, N1.15, and N0.60 from the previous N1.80, N1.25 and N0.65 per share

On the volume index, Japaul Gold led trading with 71 million shares in 120 deals followed by E-TRANZACT which traded 70 million shares in 49 deals.

Tantalizer traded 57 million shares in 155 deals.

On the value index, Arade traded stocks worth N781 million in 320 deals followed by OANDO which traded equities worth N732 million in 551 deals.

Zenith Bank traded shares valued at N622 million in 291 deals.