The Nigerian Exchange Ltd., (NGX) on Thursday recorded positive trends with key market indices appreciating by 1.05 per cent amid renewed bargain hunting.
In particular, market capitalisation which opened at N28.423 trillion rose 1.05 per cent to N298 billion to close at N28.721 trillion.
This was as the NGX All-Share Index climbed 554.15 points or 1.05 per cent to close at 53,275.49 compared to 52,721.34 recorded on Wednesday.
An analysis of the price movement chart showed that 21 stocks led by Transcorp Hotels topped the gainers’ table, with 9.89 per cent to close at N5.89 per share.
Beta Glass followed with 9.74 per cent to close at N62.55, while McNichols Consolidated Plc gained 9.60 per cent to close at N1.94 per share.
Veritas Kapital also gained by 9.52 per cent to close at 23k, while Multiverse Mining and Exploration rose by 9.09 per cent to close at 24kobo per share.
On the other hand, 29 other securities dropped on the chart. Conoil Plc topped the losers’ chart, falling 10 per cent to close at N28.35 per share.
Eterna Oil trailed with a loss of 9.59 per cent to close at 60k, while Prestige Insurance fell 9.09 per cent to close at 40k per share.
Cham Plc dipped by 8.33 per cent to close at 20k, while Royal Exchange Assurance lost by 7.35 per cent to close at N1.26 per share.
Further analysis of the activity chart indicated that Transcorp was the most active stock, exchanging 48.38 million shares valued N61.43 million.
MTN Nigeria sold 20.60 million shares worth N5.5 billion, Conoil Plc traded 14.34 million shares cost N409.1 million.
Guaranty Trust Holding Company(GTCo) traded 13.73 million shares valued at N328.1 million, while First Bank of Nigeria Holdings (FBNH) accounted for 13.54 million shares worth N162.46 million.
In all, investors exchanged 274.56 million shares valued N8.45 billion in 5,184 deals, indicating a decrease of 55.14 per cent.
This was against a turnover of 611.97 million shares valued at N7.43 billion traded in 5,948 deals on Wednesday.
