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NGX closes week bearish, drops further by 0.19%



Trading on the Nigerian Exchange (NGX) ended the week on a downward trend, dropping further by 0.19 per cent on Friday.

Speficially, the NGX All-Share Index lost 80.07 points or 0.19 per cent to close at 42,167l.91 from 42,247.98 achieved on Thursday.

Also, the market capitalisation lost N41 billion or 0.19 per cent to close at N22.003 trillion from N22.044 trillion reported on Thursday.

A breakdown of the price movement chart shows that FTNCocoa topped the laggards’ chart in percentage terms shedding 7.89 per cent to close at 35k per share.

Consolidated Hallmark Insurance trailed with 6.38 per cent to close at 44k, while Champion Breweries lost 5.88 per cent to close at N2.40 per share.

Courtvellle Business Solutions dipped 5.13 per cent to close at 37k , while Chams was down by 4.55 per cent to close at 21k per share.

Conversely, UPDC led the gainers’ table in percentage terms, gaining 10 per cent to close at 99k per share.

Linkage Assurance followed with 9.80 per cent to close at 56k, while NEM Insurance gained 9.76 per cent to close at N2.25.

Prestige Insurance added 8.51 per cent to lose at 51k, while Academy Press gained 8.33 per cent to close at 39k per share.

Also, the volume of shares traded closed lower as investors traded 180.95 million shares valued at N2.43 billion in 4,019 deals.

This was against 324.02 million shares worth N5.29 billion exchanged in 4,706 deals on Thursday.

GTCO was the toast of investors exchanging 23.96 million shares valued at N581.57 million.

Mutual Benefits Assurance followed with an account of 20.17 million shares worth N4.95 million, while Access Bank traded 18.72 million shares worth N168.32 million.

Ecobank Transnational Incorporated sold 9.44 million shares valued at N75.99 million, while United Capital sold 9.25 million shares worth N91.78 million.

Chinyere Joel-nwokeoma

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