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Business News of Friday, 31 December 2021

Source: sunnewsonline.com

NGX Group shares gains 5% in 2 days

Shares of the Nigerian Exchange Limited (NGX) rose 5.20 per cent in two consecutive trading sessions Shares of the Nigerian Exchange Limited (NGX) rose 5.20 per cent in two consecutive trading sessions

Shares of the Nigerian Exchange Limited (NGX) rose 5.20 per cent in two consecutive trading sessions even as the stock market rebounded from Wednesday, December 29, loss to gain 0.01 per cent while investors gained N3 million at the close of trading on Thursday, December 30.

Trading activities on the bourse had resumed on a losing note on Wednesday, December 29, as investors lost about N238 billion following profit taking in bellwether stocks.

With expectations heavy on market closing the year bullish, it bounced back from the loss as the All Share Index (ASI) gained 0.01 per cent to close at 41,813.27 points.

Specifically, market capitalisation grew by N3 million to close at N21.825 trillion from an opening value of N21.822 trillion.

Market sentiments remained positive as 21 stocks appreciated while 12 others depreciated in value.

Chip Plc led the gainers’ chart with 10 per cent to close at 0.77 kobo per share, Mutual Benefits followed with 9.68 per cent to close at 0.34 kobo, Regal Insurance gained 9.30 per cent to close at 0.47 kobo while Unity Bank garnered 8.33 per cent to close at 0.52 kobo with Wapic rising 8.16 per cent to close at 0.53 kobo.

On the flipside, FTN Cocoa led the laggards with 7.50 per cent to close at 0.37 kobo per share. Royal Exchange Plc was next with 4.76 per cent to close at 0.80 kobo, Veritas Kapital lost 4.76 per cent to close at 0.20 kobo, ETI fell by 3.47 per cent to close at N8.35 while Ardova fell 2.99 per cent to close at N13.

Further analysis revealed that the volume of stocks traded on Thursday, December 30, stood at 359.95 million shares valued at N1.84 billion, exchanged in 3,607 deals. This was against the 180.18 million shares valued at N1.48 billion that changed hands in 3,828 deals in the previous trading session.