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NGX: Key indices extend growth by 0.46%

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NSE maintain bearish trend despite listing of Ellah Lakes additional shares

Key indicators of the Nigerian Exchange (NGX) closed upbeat on Friday with a growth of 0.46 per cent, amid gains by some blue chips.

Specifically, the All-Share Index inched higher by 177.86 points or 0.46 per cent to close at 38,726.10 from 38,548.24 on Thursday.

Also, the market capitalisation increased by N92 billion or 0.46 per cent to N20.184 trillion from N20.092 trillion reported on Thursday.

A breakdown of the price movement chart shows that 21 stocks posted price appreciation in contrast with 10 laggards.

Morison Industry led the gainers table in percentage terms, gaining 9.71 per cent to N1.13 per share.

Veritas Capital came second with 9.09 per cent to 24k, while UPL increased by 9.09 per cent to N1.68 per share.

NPF Micro Finance Bank added 6.59 per cent to N1.78, while Honey Well Flour gained 6.03 per cent to close at N1.23 per share.

On the other hand, CWG topped the losers’ chart in percentage terms, dropping by 9.47 per cent to N1.53 per share.

Regence Insurance trailed with a loss of 9.09 per cent to 50k, while Royal Exchange dipped 7.69 per cent y2k per share.

Lasaco Insurance declined by 6.71 per cent to close at N1.39, while Africa Prudential shed 4.84 per cent to N5.90 per share.

However, the volume of shares transacted dipped 20.28 per cent as investors bought and sold 199.06 million shares valued at N1.59 billion in 3,150 deals.

This was against a turnover of 249.69 million shares worth N1.88 billion traded in 3,524 deals on Thursday.

Sovereign Trust Insurance was the toast of investors, exchanging 31.79 million shares valued at N8.35 million.

FCMB Group followed with an account of 28.27 million shares worth N9.53 million, while Royal Express traded 10.85 million shares valued at N7.75 million.

Fidelity Bank accounted for 10.29 million shares worth N23.12 million, while Royal Insurance traded 9.69 million shares valued at N4.97 million.

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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