NGX key market indices up 0.21%, ahead MPC meeting

The key market indices of the Nigerian Exchange improved further by 0.21 per cent on Friday, ahead of the Monetary Policy Committee (MPC) meeting.

The MPC is expected to hold its fourth meeting of the year on July 26 and July 27.

Specifically, the All-Share Index which opened at 38,585.52 inched higher by 82.38 points or 0.21 per cent to close at 38,667.90.

Also, the market capitalisation rose by N43 billion or 0.21 per cent to close at N20.146 trillion compared with N20.103 trillion achieved on Thursday.

Universal Insurance led gainers’ table in percentage terms, increasing by 10 per cent to 22k per share.

Oando followed with a gain of 9.97 per cent to N3.97, while Total gained 9.96 per cent to close at N203.20 per share.

Cutix added 9.82 per cent to close at N4.81, while Guinness improved by 9.14 per cent to close at N31.65 per share.

Conversely, UPL dominated the laggards’ chart in percentage terms, shedding 9.03 per cent to close at N1.41 per share.

Champion Breweries trailed with a loss of 8.89 per cent to N2.05, while Redstar Express shed 3.03 per cent to close at N3.20 per share.

International Breweries dipped by 2.80 per cent to close at N5.20 per share, while NAHCO declined by 2.65 per cent to close at N2.20 per share.

Similarly, the volume of shares transacted increased by 13.36 per cent with an exchange of 230.25 million shares worth N2.31 billion achieved in 4,135 deals.

This against a total of 203.11 million shares valued at N1.72 billion exchanged in 3,969 deals on Thursday.

Fidelity Bank drove the activity chart with 24.76 million shares worth N59.36 million.

Zenith Bank followed with an account of 24.29 million shares valued at N604.08 million, while United Capital sold 14.50 million shares worth N102.61 million.

United Bank for Africa exchanged 10.99 million shares valued at N85.29 million, while Sovereign Insurance traded 10.39 million shares worth N2.92 million