By Dipo Olowookere
Transactions at the Nigerian Stock Exchange (NSE) further ended bullish on Wednesday with a 0.76 per cent growth.
Investors showed renewed interest in the stock market, especially in shares in the consumer goods, banking and insurance sectors, resulting in the 3.78 per cent growth, 1.86 per cent rise and 1.63 per cent jump in their respective indices, while selloffs were witnessed in the energy and industrial goods counters, causing 0.33 per cent decline and 0.17 per cent fall in their respective indices.
However, the poor performance of the two sectors did not affect the All-Share Index (ASI), which increased at the midweek session by 267.93 points to 35,493.15 points from 35,225.22 points, while the market capitalisation went up by N140 billion to settle at N18.551 trillion in contrast to N18.411 trillion it ended on Tuesday.
Business Post reports that the trading volume rose significantly yesterday by 146.19 per cent following the 650.5 million shares traded by market participants in contrast to the 264.2 million shares transacted the previous session.
However, there was a 22.39 per cent in the trading value to N2.3 billion from the N3.0 billion achieved a day earlier and a 9.23 per cent drop in the number of deals to 3,952 deals from 4,354 per cent.
It was observed that the huge increase in the trading volume on Wednesday was buoyed by the 415.0 million units of Jaiz Bank worth N217.0 million transacted at the session, emerging as the most stock.
Axa Mansard traded 22.3 million shares for N17.2 million, Zenith Bank exchanged 19.3 million equities valued at N472.7 million, SAHCO transacted 19.0 million stocks for N50.6 million, while Access Bank transacted 15.8 million shares valued at N130.4 million.
The market breadth further closed positive at the midweek session with 26 price gainers as against the 13 price losers recorded, indicating a positive investor sentiment.
Nestle Nigeria was the highest price riser as a result of the N105 added to its equity value, closing at N1505 per unit and was trailed by Flour Mills, which gained N1.80 to close at N26.50 per share.
Zenith Bank appreciated by 60 kobo to sell at N24.10 per unit, Guinness Nigeria gained 60 kobo to finish at N18.60 per share, while GTBank chalked up 40 kobo to end at N33.95 per unit.
On the flip side, Lafarge Africa suffered the heaviest loss with a price depreciation of 50 kobo to close at N22 per unit.
United Capital went down by 14 kobo to N4.40 per share, Dangote Sugar declined by 10 kobo to N17.90 per unit, Oando depreciated by 10 kobo to N2.80 per share, while Northern Nigerian Flour Mills decreased by 7 kobo to N6.13 per share.
Adedapo Adesanya