NGX closes Christmas eve positive, market capitalisation higher N17bn

After three days of persistent bearish mood, trading on the Nigerian Exchange Ltd (NGX) rebounded by N17 billion to close Christmas eve positive.

Specifically, the market capitalisation rose by N17 billion or 0.08 per cent to close on Friday at N22.060 trillion from N22.043 trillion achieved on Thursday.

In the same vein, the NGX All-Share Index improved by 32.37 points or 0.08 per cent to close at 42,262.85 against 42,230.43 recorded on Thursday.

An analysis of the price movement chart shows that 12 stocks posted gains, against 11 laggards.

Union Bank of Nigeria led the gainers’ table in percentage terms by 9.90 per cent to N5.55 per share.

Sovereign Trust gained 8.33 per cent to 26k while PZ Cussons added 7.20 per cent to close at N6.70 per share.

Vitafoam garnered 4.41 per cent to close at N22.50 per share.

Conversely, Cornerstone Insurance topped the losers’ chart in percentage terms, dropping by 9.80 per cent to 46k per share.

UPDC trailed with 3.39 per cent to N1.14, while Jaiz Bank lost 3.13 per cent to close at 62k per share.

Japaul Gold dipped 2.63 per cent to close at 37k, while UDPD REITs dropped 2.44 per cent to close at N4 per share.

However, the volume of shares traded dropped by 47.02 per cent as investors sold 111.84 million shares valued at N911.92 in 2,072 deals.

This was against 211.09 million shares worth N2.46 billion transacted in 2,815 deals on Thursday.

Transcorp was the most active stock, exchanging 11.55 million shares valued at N11.43 million.

UBN followed with an account of 9.89 million shares worth N54.66 million, while Access Bank traded 9.88 million shares valued at N88.25 million.

Sovereign Trust Insurance traded 9.01 million shares worth N2.34 million, while Sterling Bank sold 7.13 million shares valued at N10.40 million.

Our correspondent reports that trading will resume on NGX on Dec. 29 following public holidays declared by the Federal Government on Dec. 27 and 28 for Christmas and Boxing Day celebrations.