Equities Market Gains N209 Billion, Cap Plc Leads Growth

On October 10, the equities market returned to a bullish run, gaining N209 billion as the market capitalization of listed equities rose by 0.13 percent to N161.363 trillion from N161.051 trillion the previous day. The NGX All Share Index appreciated by 321.05 basis points, reaching 248363.65 points from 248042.50 points.

Although the market breadth was negative with 22 advancers against 31 decliners, gains in shares of Cap Plc and other heavyweight stocks outweighed losses from Daar Communications, Omatek, and Wapic. Regal Insurance led the gainers, increasing by 10 percent to N0.77 per unit, followed by Livestock Feeds at 9.58 percent to N13.15 per share, and Cap Plc at 8.50 percent to N108.50 per share.

Conversely, Redstarex topped the losers, dropping by 9.76 percent to N13.40 per unit. The volume of trades decreased by 170.187 million shares, representing a 34.57 percent drop, with a total of 322.040 million shares traded.

The value of transactions also fell by 46.08 percent to N20.50 billion from N38.021 billion the previous day.