Business

NGX records N36bn in midweek gain

Trading in equities on the floor of the Nigerian Exchange Limited (NGX) yesterday closed positive to upturn the previous day’s loss as bulls regained grip following gains recorded by blue chip firms. The local bourse recorded 15 gainers against 20 losers as market sentiment returned to green route. Consequently, the All- Share Index appreciated by 68.15 basis points or 0.18 per cent to close at 38,482.52 index points as against 38,414.37 recorded the previous trading session while market capitalisation of equities grew by N36 billion from N20.022 trillion the previous day to N20.058 trillion.

Meanwhile, a turnover of 156.91 million shares exchanged in 3,273 deals was recorded in the day’s trading. The insurance subsector was the most active (measured by turnover volume); with 28.97 million shares exchanged by investors in 263 deals. Volume in the subsector was largely driven by activities in shares of Sovereign Trust Insurance Plc and Coronation Insurance Plc. Also, the premium sub-sector boosted by activities in shares of Zenith Bank Plc and FBNH Plc followed with a turnover of 26.33 million shares in 845 deals.

Further analysis of the day’s trading showed that in percentage terms, UPL Plc topped the day’s gainers’ table by 9.38 per cent to close at N1.40 per share while Regency Alliance Insurance Plc followed with 8.16 per cent to close at 53 kobo per share. Veritas Kapital Insurance Plc added 5 per cent to close at 21 kobo per share. On the flip side, CWG Plc led the losers’ with a drop of 9.66 per cent to close at N1.87 per share while Ikeja Hotel Plc shed 9.09 per cent to close at N1.00 per share. Nascon Plc trailed with 8.78 per cent to close at N13.50 per share.

 

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