July 14, 2024

Equity market at NGX gains N323bn to begin trading week

The Nigerian Exchange Market began the week on a positive note as equities market raked in N323bn in profit.

The development comes as equity capitalisation surged to N56.452 trillion on Monday from N56.128 trillion posted by the bourse on Friday, last week.

Similarly, the All-Share Index (ASI) increased to 99,793.71 from 99,222.33 recorded the previous trading day.

The market breadth was positive, as 29 stocks advanced, 10 stocks declined, and 79 stocks remained unchanged in 8,657 deals.

FLOUR MILL, TOTAL, and ACCESSCORP led other gainers with 10 percent, 9.98 percent, and 9.86 percent growth in share price to close at N41.80, N353.60, and N18.95 from the previous N38.00, N321.50, and N17.25 per share.

Conversely, ETRANZACT, DAARCOMM, and CHAMPION led as top losers as they shed 9.90 percent, 9.52 percent, and 6.67 percent each to close at N4.55, N0.57, and N2.80 from the initial N5.05, N0.63, and N3.00 per share.

On the volume index, banking stocks carried the day with FIDELITY BANK trading 605.256 million shares valued at N6.025 billion in 417 deals followed by ACCESSCORP which traded 93.067 million shares worth N1.744bn million shares in 1,032 deals.

Fideliity Bank traded 58.725 million shares valued at N1.260bn in 670 deals.

On the value index, Fideliity Bank recorded the highest value for the day trading stocks worth N6.025 billion in 417 deals followed by ACCESSCORP which traded equities worth N1.744bn in 1,032 deals.

Nigerian Breweries traded stocks worth N1.267 billion in 109 deals.

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