Market indicators record marginal growth, up 0.06%

The Nigerian Exchange Ltd., (NGX) on Friday recorded the first gain of the week appreciating marginally by 0.06 per cent due to bargain hunting in some large and medium stocks.

Accordingly, the market capitalisation gained 17 billion to close at N28.681 trillion in contrast with N28.664 trillion on Thursday.

Also, the All-Share Index rose by 0.06 per cent to close at 53, 201.38 compared with 53, 170.73 posted on Thursday.

The drivers of the positive performance were stocks of Fidson, Presco, First City Monument Bank(FCMB) Transcorp, among others.

Market breadth, however, closed negative as 14 stocks advanced while 15 declined.

A breakdown of the price movement chart indicated that Fidson  Pharmaceuticals dominated the gainers’ chart in percentage terms, appreciating by 9.59 per cent, to close at N12, per share.

FTNCocoa followed with 9.09 per cent to close at 36k, while Courtville Business Solution improved by 8.51 per cent to close at 51k, per share.

Jaiz Bank rose by 7.78 per cent to close at 97k, while  FCMB appreciated by 7.69 per cent to close at N3.50, per share.

Conversely, MRS led the losers’ chart in percentage terms, losing 9.76 per cent, to close at N14.80, per share.

TIP followed with a decline of 9.09 per cent to close at 40k, while Learn Africa lost  four per cent to close at N2.16, per share.

Oando dipped 3.23 per cent to close at N6 while AIICO shed 2.94 per cent each to close at 60k per share.

However, the total volume of shares transacted stood at to 273.24 million shares, valued at N2.64 billion in 4,584 deals.

Transcorp drove the activity chart, accounting for 103.42 million shares valued at N144.33 million.

Guaranty Trust Holding Company (GTCo) came second with 17.89 million shares valued at N393.92 million, while First Bank of Nigeria Holdings (FBNH) traded 15.73 million shares worth N160.78 million.

Zenith Bank sold 14.74 million shares valued at N336.84 million.