NGX Performance Indicators Close 0.05% Higher at Midweek

By Dipo Olowookere

The major performance indicators of the Nigerian Exchange (NGX) Limited appreciated by a marginal 0.05 per cent on Wednesday as a result of mild bargain hunting.

Shares mainly in the consumer goods and insurance sectors contributed to the growth posted at the midweek session amid sustained profit-taking in banking equities.

The insurance index rose by 1.24 per cent, the consumer goods space improved by 0.19 per cent, the banking counter depreciated by 0.59 per cent, while the energy and industrial goods sectors closed flat.

But the All-Share Index (ASI) closed higher by 23.60 points yesterday to 47,364.46 points from 47,340.86 points, while the market capitalisation grew by N13 billion to N25.527 trillion from N25.514 trillion.

As for the activity level, it was mixed on Wednesday as the trading volume dropped 20.42 per cent, the trading value rose by 2.43 per cent, and the number of deals increased by 8.84 per cent.

A total of 145.8 million stocks worth N2.53 billion were traded in 4,113 deals during the session compared with the 183.3 million stocks worth N2.50 billion transacted in 3,779 deals on Tuesday.

UBA closed the day as the most active stock with the sale of 14.8 million units valued at N125.9, Access Bank sold 10.3 million units for N107.1 million, Zenith Bank transacted 10.0 million units worth N266.1 million, GTCO exchanged 9.1 million units valued at N239.2 million, while Ecobank traded 9.1 million units worth N108.7 million.

On the price movement log, NPF Microfinance Bank was the best-performing stock yesterday as its value increased by 10.00 per cent to N2.31, followed by PZ Cussons, which gained 9.79 per cent to sell for N7.85.

AIICO Insurance appreciated by 6.15 per cent to 69 kobo, Unity Bank expanded by 4.17 per cent to 50 kobo, while NGX Group jumped by 4.02 per cent to N23.30.

The worst-performing equity of the trading session was Royal Exchange as its price dropped 9.73 per cent to close at N1.02 and was trailed by Livestock Feeds, which lost 9.71 per cent to finish at N1.58.

Industrial and Medical Gases fell by 9.47 per cent to N8.60, Chams declined by 8.70 per cent to 21 kobo, while Red Star Express deflated by 4.69 per cent to N3.05.