Nigerian exchange moves 280.57m shares worth N3.18bn in bearish trading

Nigerian exchange moves 280.57m shares worth N3.18bn in bearish trading

The Nigerian Exchange (NGX) on Friday took a positive step as it traded 280.57 million shares worth N3.18 billion in 4,012 deals.

This development is an increase of 39.01 per cent when compared with 201.84 million shares valued at N1.68 billion traded in 3,274 deals on the previous day.

Honey well Flour was the most active stock, trading 57.49 million shares worth N185.76 million.

GTCO followed with an account of 42.64 million shares valued at N1.19 billion, while Jaiz Bank sold t 22.43 million shares worth N13.27 million.

Mutual Benefits traded 16.19 million shares valued at N5.376 million, while Transcorp exchanged 14.39 million shares valued at N13.98 million.

However, the All-Share Index dipped 187.21 points or 0.47 per cent to close at 39,483.08 from 39,670.29 achieved on Thursday.

Market Capitalisation 

iBrandTV gathered that market capitalisation declined by N97 billion or 0.47 per cent to N20.571 trillion from N20.668 trillion recorded on Thursday.

Market capitalization is the total dollar market value of a company’s outstanding shares of stock. Commonly referred to as “market cap,” it is calculated by multiplying the total number of a company’s outstanding shares by the current market price of one share

FTN Cocoa dominated the laggards’ chart in percentage terms, shedding 6.98 per cent to 40k per share.

UPL trailed with a loss of 6.20 per cent to close at N1.20, while Cadbury lost 5.03 per cent to close at N8.50 per share.

Linkage Assurance dipped by 4.76 per cent to close at 60k, while Learn Africa was down by 4.44 per cent to close at N1.29 per share.

Gainers table

On the other hand, Lasaco Insurance led the gainers’ table in percentage terms, gaining 10 per cent to close at N1.54 per share.

Neimeth followed with a gain of 9.63 per cent to N2.05, while UACN gained 9.57 per cent to close at N11.45 per share.

Pharm Deko added 9.55 per cent to close at N1.72, while Consolidated Hallmark Insurance grew by 9.52 per cent to close at 46k per share. 

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