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Trading rebounds on NGX, investors gain N36bn

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NSE maintain bearish trend despite listing of Ellah Lakes additional shares

Activities on the Nigerian Exchange Ltd (NGX) rebounded on Friday with investors net worth increasing by N36 billion on renewed interest.

Specifically, the market capitalisation which opened at N21.889 trillion inched higher by N36 billion to close at N21.925 trillion.

Also, the NGX All-Share Index rose by 70.67 points to 42,014.50 from 41,943.83 points traded on Thursday.

An analysis of the price movement chart showed that 23 stocks posted price appreciation in contrast with 13 losers.

Wema Bank Plc led the gainers’ chart in percentage terms by 10 per cent to close at 88k per share.

Consolidated Hallmark Insurance followed with gain of 9.26 per cent to 59k, while Royal Exchange gained 8.33 per cent to close at 52k per share.

Mutual Benefits Assurance added 8 per cent to close at 27k, while Japaul Gold and Ventures increased by 7.89 per cent to close at 41k per share.

On the other hand, Unilever topped the laggards’ chart in percentage terms, shedding 6.32 per cent to N13.35 per share.

Universal Insurance trailed with 4.55 per cent to close at 21k, while NGX Group dipped 4.31 per cent to close at N17.75 per share.

NPF Microfinance Bank lost 3.59 per cent to close at N1.88, while Linkage Assurance shed 3.51 per cent to close at 55k per share.

Similarly, the volume of shares traded inched higher by 78.42 per cent.

Investors traded 287.04 million shares valued at N2.38 billion in 3,524 deals.

This was against 160.88 million shares valued at N1.41 billion exchanged in 3,688 deals on Thursday.

Sterling Bank was the toast of investors during the day, exchanging 83.56 million shares worth N125.51 million.

FBN Holdings followed with an account of 52.60 million shares valued at N575.47 million, while Access Bank traded 21.60 million shares worth N203.48 million.

Transcorps traded 15.63 million shares valued at N16.15 million, while Stanbic IBTC exchanged 13.61 million shares worth N530.86 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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