Investors on the Nigerian Exchange Limited (NGX), on Thursday gained ₦45 billion on their investment on the trading floor from bullish sentiment in Ardova Plc and 31 others.
NGX market capitalisation rose by ₦45 billion to close at ₦28.472 trillion just as the All-Share Index (ASI) gained 82.98 bps, representing a gain of 0.16% to close at 52,290.75 bps.
The upturn was driven by price depreciation in large and medium capitalised stocks amongst which are; Ardova Plc (AP), Guaranty Trust Holding Company (GTCO), UAC of Nigeria (UACN) and NEM Insurance.
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Analysts said they “expect the bourse to close the final trading session on a positive note, as investors cherry-pick stocks with sound fundamentals”.
Market breadth, market sentiment was positive, as 33 stocks gained relative to 18 losers.
Trade Volume
The total volume of trades increased by 89.55% to 1.270 billion units, valued at ₦7.008 billion, and exchanged in 5,963 deals.
Transactions in the shares of Transnational Corporation (Transcorp) led the activity with 811.205 million shares worth ₦1.989 billion.
Access Holdings followed accounting for 219.367 million shares valued at ₦2.346 billion, while Chams Holdings traded 30.994 million shares valued at ₦10.133 million.
Zenith Bank traded 24.319 million shares worth ₦597.329 million, while Fidelity Bank traded 24.319 million shares worth ₦137.661 million.
Gainers & Losers
Mutual Benefit emerged the highest price gainer of 10% to close at 33 kobo, per share.
NEM Insurance followed with a gain of 9.64% to close at ₦4.55, while CWG Plc advanced by 9.09% to close at ₦1.20, per share.
Ardova increased by 8.47% to close at ₦19.85, while Prestige Assurance added 8.33 per cent to close at 39 kobo.
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On the other side, Linkage Assurance led others on the losers’ chart with 9.43% to close at 48 kobo, per share.
McNichols Plc followed with a decline of 8.86% to close at 72 kobo, while Red Star Express shed 8.73% to close at ₦2.30, per share.
University Press lost 8.29% to close at ₦1.66, while Champion Breweries depreciated by 7.62% to close at ₦4.00, per share.
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