Sunday, February 5, 2023

NGX maintains bullish trend as key indices up 0.15%

Market breadth closed positive with advancing 16 stocks outnumbering 13 declining ones.

• October 21, 2022
Nigerian Exchange
Nigerian Exchange [Photo Creadit: Business Live Nigeria]

Transactions on the Nigerian Exchange Ltd. (NGX) on Friday remained bullish with crucial market indicators growing by 0.15 per cent.

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.

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.

(NAN)

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