NGX Customs Street Rebounds by 0.06% as Trading Volume Soars 162%

By Dipo Olowookere

The local stock exchange rebounded by 0.06 per cent on Thursday, as the bulls regained control of Customs Street as a result of renewed bargain-hunting.

During the session, the Nigerian Exchange (NGX) Limited, with the energy and banking sectors rising by 0.79 per cent and 0.69 per cent, respectively.

This happened amid profit-taking in other spaces, with the consumer goods index down by 1.03 per cent. Further, the insurance segment went down by 0.42 per cent, and the industrial goods sector declined by 0.04 per cent.

Yesterday, the All-Share Index (ASI) increased by 155.03 points to 242,378.13 points from 242,223.10 points, and the market capitalisation went up by N100 billion to N157.150 trillion from N157.050 trillion.

Seplat improved its value by 10.00 per cent to N14,907.80, Japaul expanded by 9.83 per cent to N2.57, Tantalizers grew by 8.29 per cent to N3.79, Secure Electronic Technology rose by 7.94 per cent to 68 Kobo, and Access Holdings gained 5.66 per cent to close at N28.00.

On the flip side, RT Briscoe depleted by 10.00 per cent to N8.10, Aradel Holdings shrank by 10.00 per cent to N1,413.00, Champion Breweries fell by 9.91 per cent to N10.00, International Breweries dipped by 9.80 per cent to N9.20, and CWG lost 9.28 per cent to trade at N17.60.

Business Post reports that 23 stocks gained weight and 30 stocks lost weight, indicating a negative market breadth index and weak investor sentiment.

The trading volume surged by 161.93 per cent to 1.4 billion shares from the previous day’s 534.5 million shares, the trading value soared by 21.53 per cent to N27.1 billion from N22.3 billion, and the number of deals depreciated by 1.54 per cent to 46,218 deals from 46,943 deals.

At the close of transactions, Fortis Global Insurance transacted 1.0 billion units worth N1.5 billion, Mutual Benefits exchanged 59.6 million units valued at N167.8 million, Access Holdings traded 28.6 million units for N791.7 million, GTCO recorded a turnover of 25.7 million units worth N3.3 billion, and Zenith Bank sold 14.3 million units valued at N1.8 billion.