Nigerian Exchange Index Rises 0.08% to 47,140.48 points

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited appreciated by 0.08 per cent on Friday following renewed bargain hunting on Honeywell Flour, Guinness Nigeria, UBA, Nigerian Breweries and 25 others.

The demand for these equities pushed the All-Share Index (ASI) up by 37.84 points to 47,140.48 points from 47,102.64 points and raised the market capitalisation higher by N20 billion to N25.406 trillion from N25.386 trillion.

Learn Africa recorded the highest increase in value yesterday with a price appreciation of 10.00 per cent to trade at N2.20 and was followed by NCR Nigeria, which rose by 9.92 per cent to N3.99.

Honeywell Flour gained 9.84 per cent to sell for N4.02, Academy Press improved by 9.82 per cent to close at N1.79, while SCOA Nigeria jumped by 9.81 per cent to N2.35.

The market closed with 15 price losers at the last trading session of the week and led by Pharma Deko, which lost 8.67 per cent to settle at N1.79.

FTN Cocoa depreciated by 5.41 per cent to 35 kobo, May & Baker fell by 5.39 per cent to N4.21, Cornerstone Insurance declined by 4.76 per cent to 60 kobo, while Sterling Bank went down by 4.12 per cent to N1.63.

Business Post reports that the consumer goods sector appreciated during the session by 1.05 per cent, while the banking counter grew by 0.08 per cent.

However, the energy sector fell by 3.42 per cent, while the insurance counter declined by 0.79 per cent, with the industrial good space closing flat.

A total of 4234.7 million shares worth N6.5 billion exchanged hands in 4,601 deals yesterday compared with the 357.8 million shares worth N6.5 billion traded in 4,251 deals a day earlier, indicating an increase in the trading volume and number of deals by 18.71 per cent and 8.23 per cent respectively, while the trading value closed flat.

Julius Berger ended the session as the most traded stock with 80.5 million units valued at N2.1 million and was trailed by Access Bank, which transacted 41.9 million units valued at N433.5 million.

United Capital transacted 39.2 million equities worth N467.4 million, Sovereign Trust Insurance sold 23.3 million stocks for N5.8 million, while Transcorp exchanged 21.9 million shares worth N25.6 million.