Bulls sustain dominance on NGX as index crosses 42,000 mark

The bulls maintained dominance on the Nigerian Exchange Ltd (NGX) on Friday with the All-Share Index crossing 42,000 mark on sustained gains.

Specifically, the index inched higher by 77.46 points or 0.18 per cent to close at 42,038.60 from 41,961.14 recorded on Thursday.

Also, the market capitalisation which opened at N21.898 trillion garnered N40 billion or 0.18 per cent to close at N21.938 trillion.

An analysis of the price movement chart shows that 31 stocks recorded price appreciation against 18 laggards.

Guinness led the gainers’ chart in percentage terms with 10 per cent to close at N36.30 per share.

Custodian Insurance followed with 9.74 per cent to close at N8.45, while AIICO rose by 9.73 per cent to close at N1.24 per share.

UPL trailed with 9.60 per cent to close at N2.17, while Wema Bank gained 9.46 per cent to close at 81k per share.

On the other hand, Regency Alliance topped the losers’ chart in percentage terms by 9.76 per cent to close at 37k per share.

CWG came second with 9.60 per cent to close at N1.13, while Sovereign Trust Insurance dipped 8.33 per cent to close at 22k per share.

Royal Exchange dropped 5.66 per cent to close at 50k, while Dangote Sugar lost 5.56 per cent to close at N17 per share.

Also, the turnover of shares traded closed higher as investors bought and sold 1.13 billion shares worth N13.78 billion in 5,458 deals.

This was in contrast with 558.89 million shares valued at N4.40 billion traded in 4,683 deals on Thursday.

Eterna dominated the activity chart with 801.28 million shares worth N10.79 billion.

FBN Holdings accounted for 56.98 million shares valued at N645.12 million, while Transcorp accounted for 27.94 million shares worth N29.78 million.

Wema Bank sold 23.53 million shares valued at N18.51 million, while AIICO traded 21.79 million shares worth N27.02 million.