Finance

Stock trading volume jumps 189% as 22 firms gain

Investors gain N96bn amid bargain hunting

Twenty-two firms listed on the Nigeria Exchange Limited saw their share prices increase on Monday, with trading volume rising by 189.27 per cent.

Investors in the equities market gained N3bn as the market capitalisation rose to N19.77tn while the NGX All-Share Index increased by 0.01 per cent to 37,952.65 basis points.

The NGX Premium Index lost 0.68 basis points, reflecting losses from all Tier-1 banks listed on the Index.

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Eterna Plc led the gainers’ chart with a 10.00 per cent increase in its share price, closing at N7.15. It was followed closely by University Press Plc, which rose by 9.93 per cent to close at N1.55 per share.

Cutix Plc, Regency Alliance Insurance Plc and Learn Africa Plc were also on the list of the top five gainers as they gained 9.92 per cent, 8.89 per cent, and 7.76 per cent respectively.

Ten firms recorded losses at the end of trading on the floor of the NGX. FTN Cocoa Processors Plc recorded the biggest loss as its share price fell by 7.32 per cent to close at N0.38.

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Sovereign Trust Insurance Plc dropped by 6.06 per cent to close at N0.31 per share. The other top losers were Ecobank Transnational Corporation (-3.77 per cent), Sterling Bank Plc (-3.21 per cent) and Union Bank Nigeria Plc (-3.21 per cent).

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Trading volumes on Monday shot up by 189.27 per cent to 462.81 million shares worth N1.20bn exchanged in 3,610 deals from 159.99 million shares valued at N927.86m traded in 3,038 deals on Friday.

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