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NGX closes for optimistic Eid-el-Kabir celebration

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NGX closes for optimistic Eid-el-Kabir celebration

By Chinyere Joel-Nwokeoma

The Nigerian stock market transaction ended on a positive note ahead of the Eid-el-Kabir celebration with marginal growth of 0.01%.

Specifically, the All-Share index rose 5.47% to close at 37,952.65 against 37,947.18 achieved on Friday.

Likewise, market capitalization increased by two billion naira or 0.01 percent to close at 19,773 billion naira from 19,771 billion naira.

The market gain was driven by the appreciation in the prices of large and mid-capitalization stocks, among which; Presco, Eterna, Cutix, Vitafoam and United Capital.

Market width closed positively with 22 winners versus 10 losers.

Eterna led the winners chart in terms of percentage with 10 percent to close at N 7.15 per share.

University Press followed with 9.93 percent to close at N 1.55, while Cutix rose 9.92 percent to close at N 3.99 per share.

Regency Alliance Insurance rose 8.89% to close at 49,000, while Learn Africa gained 8.76% to close at N 1.49 per share.

On the other hand, FTN Cocoa Processors topped the losing chart in percentage terms of 7.32 percent to close at 38,000 per share.

Sovereign Trust Insurance followed with 6.06 percent to close at 31,000, while Ecobank Transnational Incorporated lost 3.77 percent to close at N 5.10 per share.

Sterling Bank lost 3.21 percent to close at N 1.51, while Union Bank of Nigeria lost 2.68 percent to close at N 5.45 per share.

Total trading volume rose 73.50 percent, as investors bought and sold 462.81 million shares valued at 1.20 billion naira traded in 3,610 trades.

That was against a total of 266.75 million shares worth 3.04 billion naira traded in 3,065 transactions on Friday.

Trading in Jaiz Bank shares dominated the activity chart with 217.12 million shares valued at 116.621 million naira.

Sterling Bank followed with 78.184 million shares worth 119.55 million Naira, while Wema Bank traded 19.15 million shares worth 15.79 million Naira.

Sovereign Trust Bank traded 14.96 million shares worth 4.53 million naira, while Universal Insurance traded 12.80 million shares worth 2.59 million naira . (NAA)

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