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NGX sustains growth by N130bn on BUA Foods rally



The bulls sustained trading on the nation’s bourse on Friday with the market capitalisation extending growth by N130 billion.

Specifically, the market capitalisation which opened at N23.497 trillion rose by N130 billion to close at N23.627 trillion.

Also, the All-Share Index improved by 246.48 points or 0.57 per cent to close at 43,854.42 from 43,607.94 recorded on Thursday.

Meyer Paint led the gainers’ table in percentage terms, gaining 10 per cent to close at 55k per share.

Cornerstone Insurance also gained 10 per cent to close a 55k, while Ardova added 9.92 per cent to close at N13.85 per share.

BUA Foods added 9.92 per cent to close at N53.20, while PZ Cussons increased by 9.84 per cent to close at N6.70 per share.

On the other hand, Consolidated Hallmark Insurance topped the losers’ chart in percentage terms, dropping by 9.59 per cent to close at 66k per share.

Sovereign Trust Insurance trailed with 7.14 per cent to close at 26k, while UPDC dipped 3.28 per cent to close at N1.18 per share.

Julius Berger lost 2.48 per cent to close at N21.80, while Regence Insurance was down by 2.08 per cent to close at 47k per share.

Also, the volume of shares traded closed higher with an exchange of 395.15 million shares valued at N12.39 billion in 3,923 deals.

This was against 174.61 million shares worth N2.13 billion achieved in 3,715 deals on Thursday.

BUA Foods was the toast of investors, exchanging 204.59 million shares valued at N10.06 billion.

GTCO followed with an account of 25.68 million shares worth N663.37 million, while Chams traded 22.82 million shares valued at N4.57 million.

Wema Bank traded 16.05 million shares worth N12.46 million, while Transcorps sold 13.26 million shares valued at N13.46 million.

Chinyere Joel-nwokeoma

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