Equities market closes week on high, investors reap N1tr profit

Investors in the Nigerian equities market gained N1.08 trillion at the close of trading on Friday.

This followed the leap in the share prices of stocks such as Austin Laz, Union Dicon and Tantalizer, among others, on the trading floor.

The benchmark All-Share Index (ASI) surged to 152,057.38 points from the 150,363.05 points recorded the previous day.

After five hours of trading at the capital market, the equity capitalisation surged to N96.9 trillion from N95.8 trillion posted by the bourse on Thursday.

The market breadth was positive with 34 stocks advancing, 24 stocks declining, and 87 stocks remaining unchanged in 25,667 deals.

An aggregate of 1,504,914,496 units of shares was traded, valued at N21.8 billion.

Austin Laz, Union Dicon and Tantalizer led the gainers with 10%, 10% and 9.80% growth each in share prices, respectively, to close at N2.42, N6.60, and N2.69 per share, up from the previous N2.20, N6.00, and N2.45 per share.
Sovereign Insurance, Royalex and Omatek led other price decliners with a 7.42%, 6.84%, and 6.84% dip each in share price to close at N3.87, N1.77, and N1.09 per share, down from the previous N4.18, N1.90, and N1.17 per share

On the volume index, Sterling Bank led trading with 278 million shares in 327 deals, followed by First City Monument Bank, which traded 75 million shares in 391 deals.

TANTALIZER traded 58 million shares in 286 deals.

On the value index, First Holdings Co traded stocks valued at N2.3 billion in 1,094 deals, followed by Sterling Bank, which traded equities worth N1.9 billion in 327 deals.

Guaranty Trust Holdings traded shares valued at N1 9 billion in 1, 214 deals.

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