NGX Gains N32bn over Buying Interest in Banking Stocks

NGX Gains N32bn over Buying Interest in Banking Stocks

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NGX Gains N32bn over Buying Interest in Banking Stocks
The equities segment of the Nigerian Exchange (NGX) closed the week on a bullish as buying interest in banking stocks drive momentum. Consequently, market capitalisation gains N32 billion or 0.12 per cent to close at N26. 451 trillion against N26.419 trillion on Thursday.
Also, the All-Share Index went up by 59.33 basis points or 0.12 per cent to close at 49, 024.16 compared with 48,964.83 on Thursday. The upturn was impacted by gains recorded in stocks such as FBN Holdings, Jaiz Bank, Guinness and NGX Group.
Accordingly, the market breadth closed positive with 17 gainers in contrast with 10 laggards.  RT Briscoe led the gainers’ chart in percentage terms by 9.68 per cent to close at 34k per share.
Mayer and Baker followed with a gain of 9.63 per cent to close at N4.10, while Guinness appreciated by 9.29 per cent to close at N82.90 per share. READ:Weak Indicators Reduce Nigeria’s Economic Growth Optimism
Jaiz Bank rose by 8.43 per cent to close at nine kobo, while UPDC Plc appreciated by 8.42 per cent to close at N1.03 per share. On the other hand, Ikeja Hotel led the losers’ chart in percentage terms by 9.68 per cent to close at N1.12 per share.
Sovereign Trust Insurance followed with 6.9 per cent to close at 27k, while Nigerian Aviation Handling Company (NAHCO) shed 3.51 per cent to close at N5.50 per share. UPDC Real Estate Investment Trust lost 3.12 per cent to close at N3.10 per share.
In all, the total volume of shares traded increased by 61.58 per cent to 356.73 billion shares worth N3.74 billion traded in 3,219 deals. This was in contrast with 220.78 million shares valued at N2.25 billion transacted in 3,195 deals the previous day.
# NGX Gains N32bn over Buying Interest in Banking Stocks#
The post NGX Gains N32bn over Buying Interest in Banking Stocks appeared first on Nairalaw.com.

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