Equities Investors See N66bn Gain as NGX Rebounds

Equities Investors See N66bn Gain as NGX Rebounds

Equities investors saw about N66 billion gain at the Nigerian Exchange, NGX, after persistent sell pressures lower market capitalisation of all listed stock for four out of five trading sessions this week.

For the first time this week, trading on the Nigerian Exchange Ltd. (NGX) rebounded on Friday, reversing a four-day bearish trend with a gain of N65 billion. Specifically, the NGX market capitalisation rose by N65 billion, or 0.09 per cent, closing at N65.819 trillion, up from N65.754 trillion recorded on Thursday.

Similarly, the All-Share Index (ASI) increased by 104.19 points or 0.09 per cent, closing at 104,962.96, compared to 104,858.77 in the previous session. The market breadth closed positive, with 29 gainers outpacing 21 losers. On the gainers’ chart, Linkage Assurance surged by 10 per cent, closing at N1.43 per share.

Livestock Feeds gained 9.93 per cent, ending at N8.41 per share. Mutual Benefit Assurance rose by 9.84 per cent, closing at 67k per share. United Bank for Africa (UBA) advanced by 5.75 per cent, reaching N36.80 per share. Oando increased by 5.59 per cent, closing at N51.00 per share.

On the losers’ chart, Red Star Express declined by 9.91 per cent, closing at N4.82 per share. Learn Africa dropped 9.85 per cent, to N3.02 per share. eTranzact International fell 9.43 per cent, closing at N4.80 per share.

WAPIC Insurance lost 9.39 per cent, ending at N2.22 per share. Ikeja Hotel decreased by 9.35 per cent, closing at N9.70 per share. A total of 397.21 million shares worth N14.170 billion were traded across 10,099 deals.

This marks an increase compared to 310.53 million shares valued at N6.247 billion exchanged in 10,182 transactions on the previous day.

Fidelity Bank led the activity chart with 62.271 million shares worth N1.062 billion. Access Corporation followed, trading 38.326 million shares valued at N843.68 million. Tantaliser exchanged 31.992 million shares worth N99.179 million.

Veritas Kapital Assurance traded 31.43 million shares valued at N38.409 million. Zenith Bank recorded 22.677 million shares worth N1.055 billion. The Insurance (-0.49%) and Consumer Goods (-0.02%) indices closed negative due to selloffs in GTCO (-3.00%) and DANGSUGAR (-1.91%), respectively.

On the flipside, the Oil & Gas (+0.50%) and Banking (+0.12%) indices were the sole gainers following price upticks in OANDO (+5.59%) and UBA (+5.75%), respectively. The industrial goods and commodity indices remained unchanged. #Equities Investors See N66bn Gain as NGX Rebounds UBA, ACCESS Drive Intraday Gain in Equities Marke