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NGX extends bullish run, gains N85bn

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The Nigerian Exchange Ltd., (NGX) recorded another positive performance on Friday, with a gain of N84.65 billion market capitalisation closed at N26,994 trillion from N26,909 trillion on Thursday.

Also, the All-Share Index (ASI) increased by 156.03 points or 0.31 per cent to close at 50,045.83 from 49,889.80 trillion recorded on Thursday.

The upturn was due to gains recorded in large and medium capitalised stocks, amongst which are: Zenith Bank, Stanbic Bank, Nigerian Breweries and MTN Nigeria Communications (MTNN).

The market closed positive as 21 stocks gained relative to nine losers.

FCMB Group recorded the highest gain of 9.06 per cent to close at N3.49 per share.

Stanbic Bank followed with 6.45 per cent to close at N33, while Etranszact rose by six per cent to close at N2.65 per share.

Transcorp rose by 4.76 per cent to close at N1.10, while NPF Microfinance appreciated by 4.52 per cent to close at N1.62 per share.

Courtville Business Solutions gained by 4.17 per cent to close at 50k per share.

On the other hand, Caverton Offshore Support Group led the losers’ chart by 9.50 per cent to close at N1.62 per share.

Eterna followed with 9.17 per cent to close at N5.45, while NCR shed 9.09 per cent to close at N3 per share.

Japaul Gold and Ventures lost 7.50 per cent to close at 37k, while Ecobank Transnational Incorporated shed 7.20 per cent to close at N11.60 per share.

However, the total volume traded decreased to 240. 02 million units valued at N2,68 billion and exchanged in 3,435 deals.

This was in contrast with 229.12 million shares worth N1.75 billion traded in 3,575 deals on Thursday.

Transactions in the shares of Sterling Bank topped the activity chart with 93.7 million shares valued at N136.01 million.

Fidelity Bank followed with 28.77 million shares valued at N97.1 million.

Fidson Healthcare followed with 13.85 million shares worth N130.38 million, while Guaranty Trust Holding traded 13.04 million shares valued at N258.52 million.

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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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