May 18, 2024

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Bears Continue Market Control in NGX

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CEM REPORT, MARKET | The bulls have continued their strong control of the equity market at the close of Tuesday’s trading on the floor of the Nigerian Stocks Market.

Investors gained N44 billion as Market Capitalisation was up by 0.15% to close at N28.998 trillion from the previous close of N28.954 trillion.

The All Share Index also advanced by 0.15% to close at 53,238.67 points from Monday’s close of 53,157.83 points.


At the close of the day’s trading, 250 million units of shares in 4,328 deals valued at N5.88 billion exchanged hands

Consequently, the Market Breadth closed positive as 29 equities appreciated in their share prices against 18 equities that declined in their share prices.

Top Gainers

GEREGU, Living Trust Insurance and Veritas Kapita led other gainers with 10.00% growth each to close at N193.60, N1.98 and N0.22 from the previous close of N176.00, N1.80 and N0.20 respectively.

JOHN HOLT, SCOA and WAPIC among other gainers also grew their share prices by over 9.7%.

Top Losers

NCR and CHAMS led the loser’s table shedding 10.00% each of their share prices to close at N3.24 and N0.27 from the previous close of N3.60 and N0.30 respectively.

Unity Bank, Royal Exchange and Japaul Gold among other price decliners also shed their share prices by 9.09%, 8.97% and 8.33% respectively.

Volume Drivers

ACCESSCORP traded about 11.6 million units of its shares in 162 deals, valued at about N104.9 million.

Zenith Bank traded about 12.5 million units of its shares in 277 deals, valued at N315 million.

GTCO traded about 14 million units of its shares in 264 deals, valued at about N353.8 million.

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