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NGX market capitalisation extends rally by N20bn

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NSE maintain bearish trend despite listing of Ellah Lakes additional shares

The nation’s bourse maintained postive trading on Friday, extending gaining streak by 0.10 per cent.

Specifically, the market capitalisation which opened at N21.275 trillion increased by N20 billion or 0.10 per cent to close at N21.295 trillion.

Also, the All-Share Index inched higher by 39.21 points or 0.10 per cent to close at 40,868.36 compared with 40,829.15 posted on Thursday.

A breakdown of the price movement chart shows that 22 stocks recorded price appreciation in contrast with 16 laggards.

UPL led the gainers’ table in percentage terms, gaining 9.72 per cent to close at N1.58 per share.

Sovereign Trust Insurance followed with 9.09 per cent to close at 24k, while Caverton gained 6.33 per cent to close at N1.68 per share.

Regency Insurance rose by 5.26 per cent to close at 40k, while NPF Microfinance Bank added 5.26 per cent to close at N1.80 per share.

Conversely, Academy Press dominated the laggards’ table in percentage terms, shedding 7.69 per cent to close 36k per share.

Africa Prudential trailed with 6.06 per cent to close at N6.20, while Honeywell gained 3.78 per cent to close at N3.56 per share.

Jaiz Bank dipped by 3.33 per cent to close at 58k, while Mutual Benefits lost 3.23 per cent to close at 30k per share.

FBN Holdings for the second consecutive day drove the activity chart, accounting for 154.68 million shares valued at N1.54 billion.

GTCO followed with 17.33 million shares worth N495.24 million, while Fidelity Bank traded 13.79 million shares valued at N35.87 million.

Transacorp traded 12.50 million shares worth N12.14 million, while Ecobank Transnational sold 11.55 million shares valued at N72.02 million.

In all, investors traded 331.06 million shares valued at N2.92 billion exchanged in 3,986 deals, a decrease of 59.24 per cent.

This was against a turnover of 812.29 million shares worth N10.58 billion traded in 4,863 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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