Trading on NGX remains bullish, investors gain N134bn

Trading on NGX remains bullish, investors gain N134bn

By Olawunmi Ashafa, Lagos..


Nigeria’s equities market on Thursday extended its gains due to investors’ interest in MTN Nigeria Communications (MTNN) and 19 others, which increased the performance indicators by 0.5 per cent.


Accordingly, investors gained N134 billion in value, as market capitalisation went up to N26.816 trillion as against N26.682 trillion recorded on Wednesday.


Also, the All Share Index (ASI) rose by 244.98 points, representing a gain of 0.5 per cent to close at 49,233.02 from 48,988.04.


The positive performance was due to gains recorded in medium and large capitalised stocks, among which are MTNN, Chemical Stanbic IBTC Holdings Zenith Bank, Allied Products (CAP) and Ardova Plc. (AP).


The market breadth closed positive, as 20 stocks advanced, while eight declined.


CAP recorded the highest price gain of 9.88 per cent to close at N17.80, while AP followed with a gain 9.51 per cent to close at N16.70 per share.


Cornerstone Insurance and Thomas Wyatt Nigeria increased by 8.33 per cent each to close at 52 kobo each, while Learn Africa appreciated by 8.12 per cent to close at N2.13 per share.


However, McNichols led the losers’ chart by 10 per cent to close at 54 kobo per share.


Geregu Power followed with a drop of 8.11 per cent to close at N102.00, while Chams declined by 4.35 to close at 22 kobo per share.


Guaranty Trust Holding Company (GTCO) shed 1.91 per cent to close at N20.50, while United Capital dropped 1.46 per cent to close at N13.50 per share.


The total volume traded grew by 153.1 per cent to 222.775 million shares, worth N2.129 billion, and traded in 2,756 deals.


Transactions in the shares of Sterling Bank topped the activity chart with 153.28 million shares valued at N205.43 million.


GTCO followed with 10.47 million shares worth N216.96 million, while Zenith Bank traded 8.69 million shares valued at N200.26 million.


FBN Holdings (FBNH) traded 4.97 million shares valued at N53.53 million, while United Bank for Africa (UBA) transacted 4.52 million shares worth N32.95 million.

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