New Telegraph

NGX erases previous day’s loss, gains N102bn

ngx NGX

Trading activities on the floor of the Nigerian Exchange Limited (NGX), yesterday, closed on the positive route to upturn previous day’s loss as bulls regained grip following gains recorded by blue chip firms. The local bourse recorded 16 gainers against 17 losers as Okomu Oil Plc and Learn Africa Plc led the gainers’ chart. Consequently, the All- Share Index appreciated by 195.3 basis points or 0.5 per cent to close at 38,881.70 index points as against 38,686.40 recorded the previous trading session while market capitalisation of equities grew by N102 billion from N20,164 trillion the previous day to N20.266 trillion as market sentiment returned to the positive territory.

Meanwhile, a turnover of 218.51 million shares exchanged in 3,630 deals was recorded in the day’s trading. The banking sub-sector was the most active (measured by turnover volume) with 48.92 million shares exchanged by investors in 607 deals. Volume in the subsector was largely driven by activities in shares of Fidelity Bank Plc and GTBank Plc. Also, the insurance sub-sector, boosted by activities in the shares of AXA-Mansard Assurance Plc and Veritas Kapital Assurance Plc, followed with a turnover of 48.68 million shares in 374 deals.

Further analysis of the day’s trading showed that in percentage terms, Okomu Oil Nigeria Plc topped the day’s gainers’ table by10 per cent to close at N106.15 per share while Learn Africa Plc followed with 9.00 per cent to close at N1.09 per share. FGS202249 added 5.56 per cent to close at N95 per share. On the flip side, CWG Plc led the losers by 9.42 per cent to close at N1.25 per share while Regency Alliance Insurance Plc shed 8.16 per cent to close at 45 kobo per share. FTN Cocoa Plc trailed with 7.69 per cent to close at 36 kobo per share.

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