Bulls Dislodge Bears, As NGX Market Cap Rises By N87Bn

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Nigeria’s equities market reversed Thursday’s bearish trend to close the week’s trading sessions on Friday positive in a very competitive buy-in and sell-off session that impacted on the local bourse’s broad performance.

Data from the Nigerian Exchange Group (NGX) on the trading session showed that the benchmark All-Share Index (ASI) traded 0.29% higher to close at 52,973.88 index points compared to the 52,821.64 index points it recorded in the previous day’s trading session.

Similarly, the market capitalization of equities appreciated by N82 billion to close at N28.844 trillion, representing 0.28% gain compared to the N28.762 trillion it closed at during Thursday’s trading session.

The data further showed that the market breadth closed positive as NASCON Plc, which recorded 10.00% appreciation in its share led the gainers’ table while SOVRENINS with -7.69% dip per share value led the losers’ table.

The report indicated that UBA Plc was the most traded equity by volume at the end of today’s session just as ZENITHBANK led based on the value traded.

The NGX indices indicated that the volume of shares traded totalled 461.78 million, valued at N7.67 billion in 6,520 deals.

The equities market supervisory group also reported that the five top gainers at the close of the week’s trading on Friday were NASCON, which gained 10.00% to close at N15.40 per share; CONOIL that gained 9.98% to close at N47.95 per share; NEM which appreciated in value by 9.95% to close at N4.75 per share; FTNCOCOA, which gained 9.68% to close at N0.68 per share; and NCR, that also gained 9.68% to close at N3.06 per share.

Conversely, the NGX data showed that the top ASI losers at the end of the day’s trading included SOVRENINS, which was down by -7.69% to close at N0.36 per share; which MBENEFIT lost  -5.56% in value to close at N0.34 per share; NGXGROUP, also down by -4.04% to close at N27.35 per share; ROYALEX that depreciated by -4.00% to close at N0.48 per share; and TANTALIZER that was down by -3.85% to close at N0.25 per share.

The market indices also reflected that the top three traded stocks by volume were UBA: 59,406,008; ACCESSCORP: 51,491,667; and ZENITHBANK: 50,013,174; while those that topped the table based on value traded comprised ZENITHBANK: N1,340,521,218; GTCO: N1,116,297,068; ACCESSCORP: N581,168,965.



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