New Telegraph

February 24, 2024

Equities erase previous day’s loss with N19bn gain

ngx NGX

Trading activities on the floor of the Nigerian Exchange Limited (NGX), yesterday, closed positive to upturn previous day’s loss as bulls regained grip following gains recorded by blue chip firms.

 

The local bourse recorded 11 gainers against 33 losers to close the market breath flat. Consequently, the All- Share Index appreciated  by 36.6 basis points or 0.87 per cent to close at 42.013.39 index points as against 41,976.79 recorded the previous trading session while market capitalisation of equities grew by N19 billion from N21,906 trillion the previous day to N21.925 trillion as market sentiment returned to the positive territory.

 

Meanwhile, a turnover of 318.97 million shares exchanged in 6,482 deals was recorded in the day’s trading.

 

The premium sub-sector was the most active (measured by turnover volume) with 128.96 million shares exchanged by investors in 1,618 deals. Volume in the sub-sector was largely driven by activities in the shares of UBA Plc and FBNH Plc.

 

Also, the insurance sub-sector, boosted by activities in the shares of Soveriegn Trust Insurance Plc and Mutual Benefits Assurance Plc, followed with a turnover of 46.62 million shares in 432 deals.

 

Further analysis of the day’s trading showed that in percentage terms, International Breweries Plc topped the day’s gainers’ table by 9.62 per cent to close at N5.70 per share, while Lasaco Assurance Plc followed with 8.33 per cent to close at N1.17 per share. Linkage Assurance Plc added 7.55 per cent to close at 57 kobo per share.

 

On the flip side, FG142027S1 led the losers by 25.64 per cent to close at N90.00 per share while UACN Plc shed 9.73 per cent each to close at N10.20 per share. FTN Cocoa Plc trailed with 8.70 per cent to close at 42 kobo per share

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