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NGX market indicators rebound by 0.83% on renewed confidence

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The Nigerian Exchange (NGX) key market indices rebounded by 0.83 per cent on Friday on renewed investors confidence.

Specifically, the All-Share Index inched higher by 313.45 points or 0.83 per cent to close at 38,212.01 against 37,898.56 recorded on Thursday.

Also, the market capitalisation rose by N164 billion or 0.83 per cent to close at N19.919 trillion from N19.755 trillion on Thursday.

A breakdown of the price movement table indicates that NASCON topped the gainers’ chart in percentage terms with 9.76 per cent to close at N15.75 per share.

Ikeja Hotels came second with 9.59 per cent to close at N1.60, while Berger Paints increased by 9.52 per cent to close at N9.20 per share.

Academy Press rose by 9.38 per cent to close at 35k, while Tripple Gee garnered 9.09 per cent to close at 84k per share.

On the other hand, UPL dominated the laggards’ table in percentage terms by 8.98 per cent to close at N1.52 per share.

Linkage Assurance lost 7.61 per cent to close at 85k, while FCMB Group dipped 7.46 per cent to close at N3.10 per share.

The banking stocks drove the activity chart with Wema Bank emerging the most active, accounting for 36.07 million shares worth N24.64 million.

Courtville trailed with 20.80 million shares worth N4.29 million, while Fidelity Bank sold 19.11 million shares valued N44.39 million.

Access Bank accounted for 18.36 million shares worth N157.05 million, while Zenith Bank traded 17.91 million shares valued N429.49 million.

In all, investors bought and sold a total of 209.19 million shares worth N2.01 billion in 3,240 deals, representing an increase 1.82 per cent.

This is in contrast with a total of 205.45 million shares valued N2.74 million shares traded in 3,563 deals on Thursday.

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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