Despite late positive rally by UBA, GTB Holding, bears own week at NGX

Negative trend that had opened the week’s trading activity at the NGX continued till the last day of trading Friday, as stocks dropped more value.

At the end of Friday’s trading, market capitalization of listed equities depreciated by 0.71% to close at N20.28 trillion as against the N20.424 trillion recorded earlier on Wednesday. This is also the All-Share Index dropped by 0.71% or 38,921.78 basis points compared to 39,204.52 basis points recorded the previous day.

However, on a brighter side, trading in the shares of United Bank for Africa, rallied positive movement on the activity chart as the banker sold 15.261 million shares valued at N116.72 million. Another banker,

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Guaranty Trust Bank Holding Co Plc followed with 12.158 million shares valued at N328.578 million shares, while insurer, Linkage Assurance Plc traded 11.786 million shares valued at N6.988 million.

This did not, however, change the overall mood as investors’ losses dipped further with a total volume of only 154.56 million units of shares valued at N2.28 billion exchanging hands in 3,467 deals.

Overall, there were 14 gainers and 20 losers, at the end of the day’s trading activity.

Topping the gainers’ chart was Flour Mills of Nigeria which gained N0.20k to close at N28.95k, and followed by Zenith Bank Plc with a price gain of N0.20k to close at N24.00, while Custodian Insurance gained N0.15k to close at N6.70k.

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On the loser’s table, Airtel Africa led with N35.00 to close at N715.00, followed by Cadbury Nigeria Plc with a closing price of N8.00 after losing N0.50k. And despite leading on the shares traded log, United Bank for Africa Plc lost N0.25k to close at N7.60k.

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