NGX closes week’s first trading session upbeat

Chiamaka Ikechukwu

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The Nigerian Exchange (NGX) Group started the week upbeat on the back of gains made by investors on the share price of MTN Nigeria Communications Plc and Airtel Africa.


Both Telcos made 9.62 percent and 10 percent gain on their share prices, which kept the market positive.


This is in line with analysts’ expectations that the market will remain bullish until the end of the year.


The market capitalization of listed equities appreciated by N643 billion to close at N22. 569 trillion, showing a 2.93 percent increase compared to the N21, 925 trillion recorded on Friday.


Similarly, the All-Share Index inched up by 1,232.37 basis points, representing a 2.93 percent increase to close at 43,245.87 points higher than Friday’s 42,014.50 points.


Investors saw 443.61 million units of shares valued at N5.05 billion exchange hands in 5,233 deals.


The trading session ended with 18 gainers and 26 losers.


Top on the gainers’ list was Airtel Africa with a price gain of N78.00 to close at N858.00. Red Star Express Plc followed with a price gain of N0.31k to close at N3.43k, while MTN Nigeria Communications Plc gained N16.90 to close at N192.50k.


On the losers’ chart, CONOIL lost N2.50k to close at N23.00. CWG Plc followed with a closing of  N1.02k after losing N0.11k, while Custodian Insurance Plc lost N0.80k to close at N7.65k.

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