NGX: Investors Make N345bn Profit As Equities Market Reverses 4-Days Losing Streak

The equities market reversed 4-days losing streak to end the week on a positive note as investors made a profit of N345bn buoyed by strong performances by equities like MAYBAKER, GEREGU, MEYER and VERITASKAP.

For the first time this week, the NGX-All-Share Index ASI increased 101,858.37 from 101,227.42 recorded at the close of the previous trading day.

Similarly, the market capitalization increased today by N345.11bn to N55.73tr from N55.39tr recorded at the close of the previous trading day,

The market breadth also closed positive as 38 stocks advanced, 27 stocks declined, while 53 stocks remained unchanged in 8,925 deals.

May and Baker Plc led other gainers with 10% growth to close at N7.04 from its previous price of N6.40. Geregu Power, Meyer, and Veritas Kapital Assurance Plc are amongst other gainers that also grew their share prices by 9.92%, 9.86, and 9.84% respectively.

On the flipside, Eterna Plc led other price decliners as it shed 10% off its share price to close at N17.95 from its previous closing price of N19.90. Industrial and Medical Gasses Nigeria, Daar Communications, and Neimeth International Pharmaceutical Plc are amongst other losers that also shed their share prices by 9.37%, 9.21%, and 9.09 respectively.

Transcorp Plc traded 33.343 million units of its shares in 615 deals, valued at N439.016 million followed by Universal Insurance Plc which traded 21.247 million units of its shares in 109 deals, valued at N7.812 million and EcoBank Transnational Inc. (ETI) Plc which traded 18.775 million units of its shares in 65 deals, valued at N486m.

On the value index, GEREGU recorded the highest value for the day trading stocks worth N2.142bn in 379 deals followed by ETI which traded stocks worth N486m 65 deals and GTCO which traded equities worth N479m in 254 deals