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Stock market remains bullish, capitalisation gains N97bn

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Transactions ended on the Nigerian Exchange Ltd., (NGX) on Friday still on a positive note with market indices increasing by 0.34 per cent.

Our correspondent reports that the market capitalisation increased by N97 billion to close at N28.625 trillion in contrast with N28.528 trillion achieved on Thursday.

Similarly, the All-Share Index which closed at 53,098.46 against 52,917.76 on Thursday, gaining 180.7 points or 0.34 per cent.

Our correspondent reports that NNFM recorded the highest price gain to lead the gainers’ chart, with 9.94 per cent to close at N9.95 per share.

MCNICHOLS followed with a gain of 9.84 per cent to close at N1.34 and Neimeth rose by 9.71 per cent to close at N1.92 per share.

Transcorp Hotel was up by 9.66 per cent to close at N4.88, while Royal Exchange Assurance appreciated by 9.29 per cent to close at N1.53 per share.

Conversely, Champion topped the losers’ table, dropping by 9.74 per cent to close at N8.80 per share.

International Breweries followed with a loss of 9.74 per cent to close at N8.80 and Academy Press depreciated by 9.58 per cent to close at N1.51 per share.

Triple G declined by 9.38 per cent to close at 87k, while Regent Alliance Insurance down by 6.45 per cent to close at 29k per share.

Our correspondent also reports that analysis of the activity chart indicated that Transcorp emerged the most active in volume terms, having accounted for 37.93 million shares worth N48.19 million.

It was followed by Jaiz Bank with an exchange of 32.31 million shares valued at N29.03 million and WAPCO sold 14.95 million shares worth N475.19 million.

Guaranty Trust Holding Company (GTCo) exchanged 13.96 million shares valued at N333.36 million, while Oando sold 13.01 million shares worth N77.26 million.

In all, investors staked N3.58 billion on 303.49 million shares transacted in 7,019 deals against 426.02 million shares worth N5.697 billion achieved in 7,639 deals on Thursday.

Olawunmi Ashafa

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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