New Telegraph

NGX halts downturn, records N8bn gain

ngx NGX

Activities at Nigeria’s equities market closed positive, yesterday, to halt days of market downturn following gains recorded by some blue chip stocks. The key market performance measures, the NGX All Share Index and market capitalisation, rose by 0.04 per cent as market sentiments returned to gaining streaks following investors’ sustained optimism on undervalued stocks.

Consequently, the All- Share Index gained 15.31 basis points or 0.04 per cent to close at 37,872.55 as against 37,857.24 recorded the previous day, while the market capitalisation of equities appreciated by N8 billion or 0.04 per cent to close at 19.732 trillion from N19.724 trillion as market sentiment returned on the green zone.

Meanwhile, a turnover of 108.23 million shares exchanged in 2,511 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume) with 88.87 million shares exchanged by investors in 1,086 deals. Volume in the sub-sector was largely driven by activities in shares of UBA Plc and Access Bank Plc. The banking sub-sector, boosted by activities in shares of GTCO Plc and Wema Bank Plc, followed with a turnover of 30.08 million shares in 603 deals.

The number of gainers at the close of trading session was 18, while decliners closed at 11. Capital Hotel Plc led the gainers’ table by 10 per cent to close at N2.64 per share while NCR Plc followed with 9.89 per cent to close at N3.00 per share. Unity Bank Plc added 6.78 per cent to close at 63 kobo per share.

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