NGX closes for Eid-el-Kabir celebration upbeat

Transaction on the Nigerian stock market closed on a positive note ahead of the Eid-el-Kabir celebration with a marginal growth of 0.01 per cent.

Specifically, the All-Share Index rose by 5.47 per cent to close at 37,952.65 against 37,947.18 achieved on Friday.

Similarly, the market capitalisation rose by two billion naira or 0.01 per cent to close at N19.773 trillion from N19.771 trillion.

The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are; Presco, Eterna, Cutix, Vitafoam and United Capital.

The market breadth closed positive with 22 gainers in contrast with10 losers.

Eterna dominated the gainers’ chart in percentage terms with 10 per cent to close at N7.15 per share.

University Press followed with 9.93 per cent to close at N1.55, while Cutix rose by 9.92 per cent to close at N3.99 per share.

Regency Alliance Insurance rose by 8.89 per cent to close at 49k, while Learn Africa gained 8.76 per cent to close at N1.49 per share.

On the other hand, FTN Cocoa Processors led the losers’ chart in percentage terms by 7.32 per cent to close at 38k per share.

Sovereign Trust Insurance followed with 6.06 per cent to close at 31k, while Ecobank Transnational Incorporated lost 3.77 per cent to close at N5.10 per share.

Sterling Bank lost 3.21 per cent to close at N1.51, while Union Bank of Nigeria shed 2.68 per cent to close at N5.45 per share.

The total volume of trades increased by 73.50 per cent as investors bought and sold 462.81 million shares valued at N1.20 billion exchanged in 3,610 deals.

This was against a total of 266.75 million shares worth N3.04 billion exchanged in 3,065 deals on Friday.

Transactions in the shares of Jaiz Bank topped the activity chart with 217.12 million shares valued at N116.621 million.

Sterling Bank followed with 78.184 million shares worth N119.55 million, while Wema Bank traded 19.15 million shares valued at N15.79 million.

Sovereign Trust Bank traded 14.96 million shares worth N4.53 million, while Universal Insurance transacted 12.80 million shares valued at N2.59 million.