Economy

Trading rebounds on NGX, market capitalisation increases N18bn

NGX opens week with 0.44% loss
Written by Maritime First

Transactions on the Nigerian Exchange (NGX) Ltd. rebounded by 0.09 per cent on Wednesday,  following renewed positive investors sentiment.

Consequently, the All-Share Index gained 34.33 points, representing a growth of 0.09 per cent to close at 38,636.15 from 38,601.83 recorded on Tuesday.

Similarly, the market capitalisation inched higher by N18 billion to close at N20.220 trillion compared with N20.202 trillion posted on Tuesday.

The uptrend was also driven by price appreciation in medium and large capitalised stocks, amongst which are Guinness Nigeria, MTN Nigeria Communications (MTNN), FBN Holdings, Zenith Bank and Vitafoam.

Guinness Nigeria drove the gainers’ chart in percentage terms with a growth of 9.96 per cent to close at N26.50 per share.

Meyer followed with 8.16 per cent to close at 53k, while Wema Bank rose by 5.26 per cent to close at 60k per share.

Chams appreciated by 4.76 per cent to close at 22k, while Caverton Offshore Support Group rose by 2.56 per cent to close at N2 per share.

On the other hand, Northern Nigeria Flour Mills led the losers’ chart in percentage terms by 10 per cent to close at N5.40 per share.

Fidson Healthcare trialed with a loss of 9.89 per cent to close at N4.28, while Cutix shed 9.78 per cent to close at N2.03 per share.

Also read: Negative sentiments persist on NGX, indices down by N58bn

Sterling Bank dipped 8.33 per cent to close at N1.65, while Wapic Insurance depreciated by eight per cent to close at 46k per share.

Transactions in the shares of Japaul Gold and Ventures topped the activity chart with 46.22 million shares valued at N34.57 million.

UACN followed with 32.59 million shares worth N311.50 million, while Fidelity Bank traded 28.47 million shares valued at N70.73 million.

Access Bank sold 22.69 million shares worth N183.24 million, while Zenith Bank transacted 19.62 million shares worth N431.43 million.

In all, the total volume of shares traded increased by 33.15 per cent with a total of 278.04 million shares valued at N2.27 billion in 3,989 deals.

This was in contrast with a turnover of 208.81 million shares worth N2.91 billion transacted in 4,013 deals on Tuesday.

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Maritime First