New Telegraph

Equities halt downtrend with marginal gain

Activities on the Nigerian Exchange Limited (NGX) closed positive yesterday, reversing prior days of negative sentiments following marginal gain recorded. The key market performance measures, the NGX All Share Index and market capitalisation, rose by 0.02 per cent as market sentiments returned to gaining streaks following investors’ renewed optimism on undervalued stocks. The All-Share Index gained 10.32 basis points or 0.02 per cent to close at 42,018.92 as against 42,008.60 recorded the previous day, while the market capitalisation of equities appreciated by N5 billion or 0.02 per cent to close at N21.925 trillion from N21.920 trillion as market sentiment returned to the green zone. Meanwhile, a turnover of 639.44 million shares exchanged in 4,564 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume) with 402.02 million shares exchanged by investors in 1,487 deals. Volume in the sub-sector was largely driven by activities in shares of FBNH Plc and UBA Plc. The banking sub-sector, boosted by activities in shares of Sterling Bank Plc and Ecobank Plc, followed with a turnover of 150.89 million shares in 980 deals. The number of gainers at the close of trading session was 20, while decliners closed at 19. Abey Building Plc led the gainers’ table by 9.47 per cent to close at N1.04 per share, while Meyer Paints Plc followed with a gain of 8.33 per cent to close at 26 kobo per share.

NEM Insurance Plc added 7.56 per cent to close at N2.42 per share. On the other hand, GSK led the price losers’ table, dropping 9.32 per cent to close at N5.35 per share. Seplat Plc followed with 5.38 per cent to close at N615 per share while Jaiz Bank Plc trailed with a loss of 4.48 per cent to close at 64 kobo per share.

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