NGX maintains upward trend as investors gain N20.4bn

Gains recorded by medium and large capitalised stocks, especially Access Bank, UCAP Sovrenins, Transcop and RTBriscoe on Friday lifted market capitalisation by N20.4 billion.

Specifically, at the close of trading on Friday, the All-Share Index rose by 37.84 points or 8.23 per cent to 47,140.48 points from the 47,102.64 recorded on Thursday.

Accordingly, investors gained N20.4 billion in value as market capitalisation went up to N25.41 trillion from N25.38 trillion on Thursday.

The tide was impacted by gains recorded in medium and large capitalised stocks, amongst which are Guiness, UCAP, NNFM, Nigerian Breweries and Honeywell Flour.

Market breadth closed positive as 27 stocks recorded gains relative to 15 losers.

Guinness Nigeria and UCAP recorded the highest price gain of N5 and N1.05 respectively, with 7.14 per cent and 8.75 to close at N70 and N12 per share each.

NNFM followed with a gain 0.95 Kobo to close at N10.85 per share representing 8.76 per cent while Nigerian Breweries rose by 1.04 per cent to close at N4.02 per share, making a gain of 50 kobo.

Also, Honeywell Flour rose by 8.96 per cent to gain 36 kobo and close at N4.02 per share

On the other hand, Nigerian Exchange Ltd., led the losers’ chart by 1.86 per cent, to close at N24.25 per share with a loss of 45 Kobo per share.

MTN Nigeria followed with a decline of 0.15 per cent to close at 199.50 per share, losing 30 Kobo per share.

Also, May and Baker recorded a loss of 24 kobo, representing 5.70 per cent to close at N4.21 per share while Pharmdeko declined by 9.50 per cent to close at N1.79 per share, losing 15 kobo per share.

Eterna Oil declined by 2.78 per cent to close at N5.4 per share with a loss of 15 kobo.

However, the total volume traded increased by 18.71 per cent to 424.70 million shares, worth N6.52 billion, and traded in 4.601 deals.