Stock Investors Gain N1.45 Trillion Following Otedola Investment Report

On Friday, the Nigerian Exchange Limited (NGX) closed the week with N1.45 trillion daily gain following the report that billionaire Femi Otedola had invested about N6 billion in Dangote Cement Plc.

The market capitalisation of all listed equities grew from N50.290 trillion on Thursday to N51.7 trillion on Friday.

Also, the NGX All-Shall Index appreciated to 94,538.12 from 91,896.97 recorded on Thursday.

A total of 34 stocks closed in the green against 35 that closed in the red while 46 others remained flat in 15, 255 deals.

BUA Cement and Seplat Energy led gainers with 10% growth to close at N148.50 and N2, 541.00 from their previous prices of N135.00 and N2, 310.00 per share, respectively.

May and Baker, Dangote Cement, and Honeywell Flour Mills followed with 9.99, 9.98%%, and 9.96% gain in share prices.

On the other hand, Lasaco Assurance led decliners with 9.85% off its share price to close at N2.47 from the previous N2.74 per share.

C&I Leasing, Mutual Benefit Assurance, and Nigeria Aviation Handling Company (NAHCO) completed the list of decliners with 9.82%, 9.41%, and 9.38% drop in their share prices.

On the volume index, Veritas Kapita Assurance traded 80.073 million shares valued at N59.6 million in 317 deals followed by Transcorp with 78,742 million shares worth N1.4 billion traded by shareholders in 1,401 deals.

Jaiz Bank traded 35.774 million in 500 deals valued at N129.886 million.

On the value index, Zenith Bank traded equities worth N1.551 billion in 471 deals followed by Transcorp with equities worth N1.519 billion in 1410 deals.

UBA traded stocks worth N1.080 billion in 663 deals.