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NGX maintains bullish trend, indices rise by 0.15%

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Transactions on the Nigerian Exchange Ltd. (NGX) on Friday remained bullish with crucial market indicators growing by 0.15 per cent.

It was reported that the market capitalisation shed N35 billion to close at N24.181 trillion, compared with N24.146 trillion on Thursday.

Similarly, the All-Share Index, which opened at 44, 332.21 gained 64.52 points or 0.15 per cent to close at 44,396.73.

Market breadth closed positive with advancing 16 stocks outnumbering 13 declining ones.

A breakdown of the price movement table showed that Academy Press topped the gainers’ table with an increase of 9.77 per cent to close at N1.46 per share.

Sterling Bank trailed with a gain of 3.95 per cent to close at N1.58, while Chams Plc rose by 3.85 per cent to close at 27k per share.

Mutual Benefits Assurance was up by 3.59 per cent to close at 29k, while Transcorp gsined by 2.83 per cent to close at N1.09 per share.

Conversely, NEM Insurance led the losers’ table, growing by 9.98 per cent to close at N4.42 per share.

Royal Exchange Insurance followed with a gain of 9.78 per cent to close at 83k, while Morison Plc went down by 9.59 per cent to close at N1.98 per share.

Sovereign Trust Insurance decreased by 7.14 per cent to close at 26k, while WAPIC Insurance declined by 5.56 per cent to close at 34k per share.

Mutual Benefits Assurance recorded the highest volume of 74.5 million traded shares, followed by FBN Holdings (23.4m), Access Holdings (15.8m) and United Bank for Africa (15.3m).

In all, investors bought and sold 95.184 million shares valued at N1.88 billion achieved in 2,888 deals.

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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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