NGX rebounds by N111bn after persistent lull

TransactIons rebounded on the Nigerian Exchange (NGX) for the first time after about nine days of persistent downward trend.

Specifically, the market capitalisation rebounded by N111 billion or 0.56 per cent on Friday to close at N19.940 trillion against N19.829 trillion posted on Thursday.

Also, the All-Share Index which opened at 38,044.58 inched higher by 212.41 points or 0.56 per cent to close at 38,256.99.

An analysis of the price movement chart showed  that 30 stocks recorded price growth in contrast with 15 laggards.

Ikeja Hotel led the gainers’ table in percentage terms, gaining 10 per cent to N1.10 per share.

Royal Express followed with 9.46 per cent to 81k per cent, while Neimeth International Pharmaceutical garnered 9.30 per cent to close at N1.88 per share.

Japaul Gold increased by 9.26 per cent to close at 59k, while Mutual Benefits rose by 9.09 per cent to 48k per share.

On the other hand, Academy Press topped the losers’ chart in percentage terms, dropping 8.33 per cent per share.

Lasaco Insurance trailed with 7.69 per cent to close at N1.44, while JohnHolt shed 7.35 per cent to 63k per share.

Presco dipped 3.80 per cent to N75.90, while BUA Cement declined by 3.03 per cent to close at N75 per share.

Similarly, the volume of shares traded closed higher as investors bought and sold 228.67 million shares worth N3.67 billion transacted in 3,318 deals.

This was in contrast with 214.17 million shares valued at N1.34 billion traded in 3,565 deals on Thursday.

Guaranty Trust Bank drove the activity chart, trading 46.33 million shares valued at N1.29 billion.

Zenith Bank followed with an account of 20.24 million shares worth N465.49 million, while Transcorp traded 20.16 million shares valued at N17.85 million.

Fidelity Bank sold 17.54 million shares worth N39.27 million, while Mutual Benefits Assurance exchanged 12.91 million shares valued at N6.04 million.