New Telegraph

NGX extends gain by N34bn

Equities transactions on the floor of the Nigerian Exchange Limited (NGX), yesterday, sustained its positive outlook as the All Share Index (ASI) rose further by 0.17 per cent. Market watchers attributed the development to sustained confidence as bargain hunters leveraged undervalued stocks after days of bear run. Consequently, the NGX All-Share Index rose by 165.72 basis points or 0.17 per cent to close at 38,548.24 index points as against 38,482.52 recorded the previous day, while market capitalisation of equities appreciated by N34 billion to close higher at N20.092 trillion from N20.058 trillion as market sentiment remained on the green territory.

Meanwhile, a turnover of 249.68 million shares in 1,524 deals was recorded in the day’s trading. The insurance sub-sector was the most active (measured by turnover volume); with 78.28 million shares exchanged by investors in 360 deals. Volume in the subsector was driven by activities in shares of Sovereign Trust Insurance Plc and AXA-Mansard Insurance Plc.

The premium subsector boosted by activities in shares of Zenith Bank Plc and FBNH Plc followed with a turnover of 51.9 million shares in 1,002 deals. The number of gainers at the close of trading session was 19 while decliners closed at 17. Further analysis of the day’s trading showed that UPL Plc led the gainers’ table by 10 per cent to close N1.54 per share, while Berger Paints Nigeria Plc followed with 9.84 per cent to close at N6.70 per share and John Holt Nigeria Plc with a gain of 9.43 per cent to close at 58 kobo per share. On the flip side, FG13203GS2 led the losers’ chart by 22.22 per cent to close at N91.00 per share. CWG Plc followed with a loss of 9.63 per cent to close at N1.69 per share while UBN Plc dropped by 6.72 per cent to close at N5.55 per share.

Read Previous

Recapitalisation: IEI engages proposed acquirer for business combination

Read Next

IMF, World Bank urge G7 to release surplus vaccines

Leave a Reply

Your email address will not be published. Required fields are marked *