Nigerian Exchange Index Surges, Equities Investors Gain N384bn
The Nigerian Exchange (NGX) All-share index surged on Friday over sustained positive momentum. Due to bargain hunting investors gained N384 billion as mid and large capitalised stocks rallied.
Specifically, the market capitalisation, which opened at N90.751 trillion, rose by 0.42 per cent or N384 billion to close at N91.135 trillion.
Similarly, the All-Share Index gained 604.58 points or 0.42 per cent, to settle at 143,584.04, compared with 142,979.46 posted on Thursday. The market breadth closed positive with 39 gainers against 25 losers.
UAC of Nigeria led the gainers’ table by 10 per cent, settling at N73.70, Nigeria Enamelware trailed by 9.97 per cent, to close at N42.45 while Ellah Lakes grew by 9.96 per cent, closing at N13.47 per share.
Also, PZ Cussons rose by 9.88 per cent, finishing at N41.70 and Neimeth International Pharmaceutical gained by 9.76 per cent, to close at N6.75 per share.
On the other side, Julius Berger led the losers’ table by 9.96 per cent, ending the session at N122.90.
Thomas Wyatt Nigeria followed by 9.50 per cent, to close at N3.24 and John Holt declined by 9.43 per cent, finishing at N7.20 per share.
Similarly, Daar Communications dipped by 6.36 per cent, settling at N1.03 while UPDC fell by 5.81 per cent, closing at N6.49 per share. Analysis of the market activity revealed an overall decline in the market deals, volume and value, as 544.7 million shares worth N19.63 billion were traded across 27,065 transactions.
This is compared to 6.23 billion shares valued at N54.5 billion that was exchanged across 32,682 transactions earlier on Thursday. Transactions in the shares of United Bank for Africa topped the activity chart with 80.10 million shares worth N3.44 billion.
Access Corporation followed with 71.7 million shares valued at N1.87 billion while Guaranty Trust Holding Company transacted 35.14 million shares worth N3.35 billion.
Zenith Bank sold 29.87 million shares valued at N2.07 billion and Ellah Lakes traded 25.94 million shares worth N337.65 million. # Nigerian Exchange Index Surges, Equities Investors Gain N384bn
