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Trading rebounds by 0.18% on NGX

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Trading on the Nigerian Exchange (NGX) returned to positive territory on Wednesday with the All-Share Index rising by 0.18 per cent.

It was reported that the index rose by 68.15 points or 0.18 per cent to close at 38,482.52 from 38,414.37 on Tuesday, amid buying interests in Dangote Cement.

Consequently, the month-to-date return turned positive to 0.1 per cent, while the year-to-date loss moderated to 4.4 per cent.

Also, the market capitalisation inched higher by N36 billion or 0.18 per cent to close at N20.058 trillion against N20.022 trillion on Tuesday.

The upturn was driven by price appreciation in large and medium capitalised stocks amongst which were; Dangote Cement, University Press, Unilever, Zenith Bank and Africa Prudential.

In spite of the growth in market indicators, the market closed negative with 20 losers in contrast with 15 gainers.

University Press drove the gainers’ chart in percentage terms with 9.38 per cent to close at N1.40 per share.

Regency Alliance Insurance trailed with 8.16 per cent to close at 53k, while Veritas Kapital Assurance rose by five per cent to close at 21k per share.

Consolidated Hallmark Insurance grew by 4.17 per cent to close at 75k, while Royal Exchange appreciated by 3.90 per cent to close at 80k per share.

On the other hand, Computer Warehouse Group led the losers’ chart in percentage terms by 9.66 per cent to close at N1.87 per share.

Ikeja Hotel followed with 9.09 per cent to close at N1, while NASCON shed 8.78 per cent to close at N13.50 per share.

John Holt lost 8.62 per cent to close at 53k, while Linkage Assurance depreciated by 8.33 per cent to close at 55k per share.

Transactions in the shares of Japaul Gold and Ventures topped the activity chart with 19.95 million shares valued N11.41 million.

FBN Holdings followed with 12.23 million shares worth N87.89 million, while Transcorp traded 11.84 million shares valued N10.45 million.

UACN traded 10.81 million shares worth N118.87 million, while Fidelity Bank transacted 9.84 million shares valued N21.85 million.

In all, the total volume of transacted dropped by 42.92 per cent to 156.91 million shares valued N1.33 billion exchanged in 3,273 deals.

This was lower than 274.85 million shares worth N2.63 billion traded in 4,159 deals on Tuesday.

Chinyere Joel-nwokeoma

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective.A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour.The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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