NGX market capitalisation rebounds by ₦345bn

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As a result, market breadth closed positive with 36 advancing stocks, compared with 26 declining ones.

Transactions rebounded on the Nigerian Exchange (NGX) on Friday with the market capitalisation increasing by ₦345 billion, after days of negative trend.

The market capitalisation closed at ₦55.735 trillion, compared with ₦55.390 trillion achieved on Thursday, a growth of 0.62 per cent.

The market capitalisation also shed ₦1.42 trillion in total for the week, having lost four out of five sessions.

Also, the All-Share Index (ASI) went up by 0.62 per cent or 631 points to close at 101,858.37, as against 101,227.66 posted on Thursday.

However, the ASI benchmark closed 2.45 per cent lower on a week-on-week basis, having lost in four of five trading sessions in the week.

Consequently, the Year-To-Date (YTD) return fell to 36.22 per cent.

The upward performance was due to buy interests in Geregu, Zenith Bank and Guaranty Trust Holding Company(GTCO) on Friday.

Analysis of the market activities indicated that trade turnover was higher than the previous session, with the value of transactions up by 2.54 per cent.

A total of 321.89 million shares valued at ₦7.35 billion were exchanged in 8,925 deals, compared to 478.38 billion shares valued at ₦7.17 billion exchanged in 10,957 deals recorded on Thursday.

Meanwhile, Transcorp led the volume chart with 33.34 million shares valued at ₦439.02 million, followed by Universal Insurance with 21.25 shares worth ₦7.81 million.

Ecobank Transnational Incorporated (ETI) traded 18.78 shares valued at ₦486.01 million, United Bank of Africa (UBA) sold 17.58 shares worth ₦448.47 million, while Access Holdings traded 16.19 shares valued at ₦408.13 million.

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On the gainers’ table, May & Baker led in percentage term of 10 to close at ₦7.04, followed by Geregu with 9.92 per cent to close at ₦675.90 per share.

Meyer Plc gained 9.86 per cent to close at ₦6.91, while Veritas Kapital Assurance rose by 9.84 per cent to close at 67k.

Also, Juli Plc garnered 9.78 per cent to close at ₦1.01 per share.

Conversely, Eterna Plc led the losers’ table by 9.80 per cent to close at ₦17.95, followed by Industrial and Medical Gases with 9.38 per cent to close at ₦13.50 per share.

Daar Communications trailed by 9.21 per cent to close at 69k, while Neimeth International Pharmacy shed 9.09 per cent to close at ₦1.80 per share.

Unity Bank lost 8.33 per cent to close at ₦2.31 per share.

As a result, market breadth closed positive with 36 advancing stocks, compared with 26 declining ones.

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