Equities market opens month on bullish note, as investors reap N70bn profit

Investors in the Nigerian equities market gained N170 billion at the close of trading on Thursday.

This followed the surge in the share prices of stocks such as PZ Plc, Eterna Plc and Champion Breweries, among others, on the trading floor.

The benchmark All-Share Index (ASI) surged to 142,979.46 points from the 142,710.48 points recorded the previous day.

After five hours of trading at the capital market, the equity capitalisation increased to N90.7 trillion from N90.5 trillion posted by the bourse on Tuesday.

The market breadth was positive with 34 stocks advancing, 26 stocks declining, and 87 stocks remaining unchanged in 32,682 deals.

PZ Plc, Eterna Plc and Champion Breweries led other gainers with 10%, 9.94% and 9.82% growth each in share prices to close at N37.95, N37.05, and N15.10 from the previous N34.50, N33.70, and N13.75 per share.


RT Briscoe, Thomas Wyatt Plc, and Sovereign Insurance Plc led other price decliners with a 9.89% 9.82%, and 9.33% dip in share price to close at N3.37, N3.58, and N2.72 per share, down from the previous N3.74, N3.97, and N3.00 per share.

On the volume index, United Bank of Africa led trading with 152 million shares in 1,514 deals, followed by Wema Bank Plc, which traded 152 million shares in 866 deals.

First HoldCo Plc traded 111 million shares in 510 deals.

On the value index, United Bank of Africa traded stocks valued at N6.3 billion in 1, 514 deals, followed by First HoldCo Plc, which traded equities worth N3.4 billion in 510 deals.

Stanbic IBTC traded shares valued at N3.4 billion in 548 deals.

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