Nigerian Stock: Investors earn N42bn, as bulls resurface

The Nigerian Exchange (NGX) closed trading on Friday with a growth of N42 billion due to renewed confidence from investors.

Specifically, the market capitalisation inched higher by N42 billion or 0.21 per cent to close at N19.771 trillion from N19.729 trillion recorded on Thursday.

Also, the All-Share Index, which opened at 37,866.90 rose by 80.28 points or 0.21 per cent to close at 37,947.18.

Cap led the gainers’ table in percentage terms, appreciating by 9.47 per cent to close at N1.80 per share.

United Capital followed with 3.17 per cent to close at 20k, while Oando added 2.81 per cent to close at N3.29 per share.

Access Bank gained 2.22 per cent to close at N9.20, while Japaul Gold increased by 2.0 per cent to close at 51k per share.

On the other hand, Consolidated Hallmark Insurance dominated the laggards’ table, dropping by 9.23 per cent to close at 59k per share.

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FTN Cocoa trailed with a loss of 8.89 per cent to close at 41k, while Unity Bank dipped 8.47 per cent to close at 54k per share.

ABC Transport was down by 8.33 per cent to 33k, while Regence Alliance Insurance dropped 8.16 per cent to close at 45k per share.

Also, the volume of shares traded improved by 66.73 per cent as investors traded 266.75 million shares valued at N3.04 billion in 3,065 deals.

This was against a turnover of 159.99 million shares worth N927.86 million exchanged in 3,038 deals on Thursday.

GTCO drove the activity chart in volume terms, exchanging 75.64 million shares worth N2.24 billion.

Jaiz Bank followed with an account of 21.47 million shares valued at N12.54 million, while Sovereign Trust Insurance traded 16.72 million shares worth N5.33 million.

Universal Insurance exchanged 13.03 million shares valued at N2.73 million, while United Capital traded 12.63 million shares worth N81.34 million.