Okomu, GTBank, Dangote Sugar, Guiness gains as equities sustains bullish trend, rises 0.45%

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Employees work on the trading floor at the Nigerian Stock Exchange (NSE) in Lagos, Nigeria, on Tuesday, April 2, 2019. The International Monetary Fund said Nigerias economy was growing too slowly to reduce poverty or joblessness and urged the government to boost revenue and scrap its system of multiple exchange rates. Photographer: Ruth McDowell/Bloomberg via Getty Images

Lagos, Aug. 7, 2020 Activities on the trading floor of the Nigerian Stock Exchange (NSE) maintained a bullish posture on Friday with the market indicators appreciating further by 0.45 per cent.

Specifically, the All-Share Index rose by 111.06 points or 0.45 per cent to close at 25,041.40 compared with 24,930.34 achieved on Thursday.

Also, the market capitalisation inched higher by N58 billion or 0.45 per cent to close at N13.063 trillion against N13.005 trillion on Thursday.

A breakdown of the price movement chart shows that Value Fund recorded the highest gain to lead the gainers’ chart with N10.30 to close at N113.50 per share.

Okomu Oil trailed with N2.05 to close at N77 while GTBank rose by 60k to close at N24.35 per share.

Guinness also gained 60k to close at N14.10 while Dangote Sugar rose by 40k to close at N11.90 per share.

On the other hand, UACN led the losers’ chart, dropping by 65k to close at N6.20 per share.

Consolidated Hallmark Insurance lost 4k to close at 41k while AIICO Insurance dipped 3k to close at 90k per share.

Jaiz Bank dropped 2k to close at 57k, while Transcorp dipped 1k to close at 61k per share.

In all, a total of 167.14 million shares valued at N2.01 billion were exchanged by investors in 4,036 deals.

This was in contrast with a turnover of 173.75 million shares worth N2.13 billion traded in 3,646 deals on Thursday.

GTBank was the toast of investors, accounting for 27.17 million shares valued at N657.61 million.

FBN Holdings came second with 22.96 million shares worth N116.87 million, while Sterling Bank sold 12.64 million shares valued at N15.09 million.

Zenith Bank accounted for 11.34 million shares worth N191.5 million, while Lafarge Africa transacted 10.77 million shares valued at N126.58 million.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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