Equities Investors Gain N35bn as Stock Market Rallies

Equities Investors Gain N35bn as Stock Market Rallies

The equities segment of the Nigerian Exchange (NGX) closed trading activities for the week bullish, to sustain previous day’s positive sentiment, as market performance indicators inched higher by 0.15%.

After large loss record seen in the first three trading session, the market halted downward trend on Thursday, and sustain its fresh bullish move on Friday with N35.14 billion gain.

Data from the local bourse shows that the market capitalisation shed N35 billion to close at N24.181 trillion, compared with N24.146 trillion on Thursday. Similarly, the All-Share Index, which opened at 44, 332.21 gained 64.52 points or 0.15 per cent to close at 44,396.73.

Market breadth closed positive with advancing 16 stocks outnumbering 13 declining ones. A breakdown of the price movement table showed that Academy Press topped the gainers’ table with an increase of 9.77 per cent to close at N1.46 per share.

Sterling Bank trailed with a gain of 3.95 per cent to close at N1.58, while Chams Plc rose by 3.85 per cent to close at 27k per share.

Mutual Benefits Assurance was up by 3.59 per cent to close at 29k, while Transcorp gained by 2.83 per cent to close at N1.09 per share. Conversely, NEM Insurance led the losers’ table, growing by 9.98 per cent to close at N4.42 per share.

Royal Exchange Insurance followed with a gain of 9.78 per cent to close at 83k, while Morison Plc went down by 9.59 per cent to close at N1.98 per share. Sovereign Trust Insurance decreased by 7.14 per cent to close at 26k, while WAPIC Insurance declined by 5.56 per cent to close at 34k per share. READ:NGX Rallies as Investors Put More Money in Banking Stocks

Mutual Benefits Assurance recorded the highest volume of 74.5 million traded shares, followed by FBN Holdings (23.4m), Access Holdings (15.8m) and United Bank for Africa (15.3m). In all, investors bought and sold 95.184 million shares valued at N1.88 billion achieved in 2,888 deals.

Meanwhile, the sector performance closed par, as two out of the five major market sectors were up, and two were down. The Industrial sector and the Consumer goods sector grew by 0.77% and 0.15% respectively, while the Insurance and Banking sectors declined by -3.48% and -0.35% accordingly.

The Oil & Gas sectors was unchanged.

# Equities Investors Gain N35bn as Stock Market Rallies#

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