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NGX erases previous day’s loss with N30bn gain

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 its grip on the local bourse following gains recorded by blue chip firms. The local bourse recorded 28 gainers against 22 losers to close the market breath on the positive as Cornerstone Insurance Plc and Morison Nigeria Plc led the gainers’ chart. Consequently, the All- Share Index appreciated by 57.41 basis points or 0.15 per cent to close at 38,564.70 index points as against 38,507.29 recorded the previous trading session while market capitalisation of equities grew by N30 billion from N20,069 trillion the previous day to N20.099 trillion as market sentiment returned to the positive territory.

Meanwhile, a turnover of 302.72 million shares exchanged in 4,387 deals was recorded in the day’s trading. The banking sub-sector was the most active (measured by turnover volume); with 128.37 million shares exchanged by investors in 1,223 deals. Volume in the sub-sector was largely driven by activities in shares of Sterling Bank Plc and Ecobank Plc.

Also, the premium subsector boosted by activities in shares of Access Bank Plc and Zenith Bank Plc followed with a turnover of 45.39 million shares in 1,156 deals. Further analysis of the day’s trading showed that in percentage terms,Cornerstone Insurance Plc topped the day’s gainers’ table by 10 per cent to close at 55 kobo per share while Morison Nigeria Plc followed with 9.68 per cent to close at N1.36 per share. Learn Africa Plc added 6.52 per cent to close at 98 kobo per share.

 

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