No major changes forecast as trading resumes, Monday at NGX floor

Negative and positive swings that characterized last week trading on the floor of the NGX is not expected to change as trading resumes on the floor of the NGX, Monday.

Market watchers posit that the bulls and bears will alternate trading as there is yet no development in the economy expected to influence trading dominance, as was seen penultimate week.

All through last week, the bulls and bears took turns to influence activities, closing on a positive Friday on the floor of the NGX, even as some days closing flat.

Trading activities) closed in the positive on Friday, with 0.02% gain, that is at 38,810.75 points, 9.24 points higher than the 38,801.51 recorded at the close of trading on Thursday.

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The market capitalization also appreciated by N5 billion to close at N20.221 trillion on Friday as against N20,216 trillion on Thursday.

Friday’s trading saw a total of 167,778,140 shares with market value of N1.663billion traded in 3,267 deals.

While Transcohot rallied gainers, having gained N0.35k or 9.80% to close at N3.92k per share, Regalins and Oando followed with N0.03k or 6.67% gains to close at N0.48k, and N0.19k or 4.13% to close at N4.79k, respectively.

While for the losers’ table, Juli led after it lost N0.12k or 9.76% to close at 1.11k, followed by Afriprud which lost 0.35k or 5.51% to close at 6.00k and ChiPlc, which lost N0.02k or 3.28%  to close at N0.59k.

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Remarkably, FBN Holdings recorded the biggest volumes of 27,279 million shares worth N199. 561 million followed by GTCO with 14,383 million shares  valued at N404,036 million.

The Insurance index lost by 0.52%, while the Banking index fell by 0.05%; Oil and Gas index gained by 0.95% while the Industrial index and the Consumer good closed flat at 0.00%, as two out of the five sub-sectors indices performance closed flat, while another two tracked closely in red.

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