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NGX: Key indices record 0.04% marginal growth

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NGX: Key indices record 0.04% marginal growth

By Chinyere Joel-Nwokeoma

The key indices of the Nigerian Stock Exchange (NGX) closed on Wednesday with marginal growth of 0.04% on further bargain hunting.

As a result, the All-Share Index rose 15.31 points or 0.04 percent to close at 37,872.55 from 37,857.24 recorded on Tuesday.

Thus, the cumulative monthly and cumulative annual losses moderated to 0.1% and 6.0%, respectively.

Likewise, market capitalization edged up 8 billion naira to close at 19.732 trillion naira from 19.724 trillion naira on Tuesday.

The positive performance was driven by the appreciation in the prices of large and mid-capitalization stocks, among which; Total Nigeria, MTN Nigeria Communications (MTNN), NCR Nigeria, Capital Hotel and PZ Cussons.

As a result, the market closed positively with 18 winners versus 11 losers.

Capital Hotel leads the winners in percentage terms with 10 percent to close at N 2.64 per share.

NCR Nigeria followed with 9.89% to close at N3, while Unity Bank appreciated 6.78% to close at 63,000 per share.

The total rose 6.06% to close at 168N, while FTN Cocoa Processors gained 5.13% to close at 41,000 per share.

On the other hand, Linkage Assurance topped the losing chart in percentage terms of 5.41% to close at 70,000 per share.

Cornerstone Assurance followed with 5.36% to close at 53,000, while Oando lost 4.14% to close at N 3.01 per share.

Consolidated Hallmark Insurance fell 2.86 percent to close at 68,000, while Access Bank lost 2.17 percent to close at N9 per share.

However, the total volume of shares edged down 0.02% to 197.23 million units valued at 2.14 billion naira traded in 3,610 trades.

That was against 197.28 billion shares worth N1.92 billion traded in 3,567 transactions on Tuesday.

Transactions in shares of United Bank for Africa dominated the activity chart with 35.92 million shares valued at 269.55 million naira.

Access Bank followed with 28.65 million shares valued at N259.58 million, while Zenith Bank accounted for 17.65 million shares valued at N 424.69 million.

UACN Property Development Company traded 13.77 million shares worth N20.04 million, while Guaranty Trust Holding Company traded 10.37 million shares worth N304.52 million. nairas. (NAN) (www.nannews.ng)

(NAN)

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