By Dipo Olowookere
The All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited closed 1.59 per cent higher on Thursday, September 30, 2021, to a level last witnessed in February 2021, Business Post reports.
Significant investment in Dangote Cement’s stocks drove the NGX index to 40,221.17 points, 628.88 points higher than the previous day’s 39,592.29 points. The last time the index smelt the 40,000 threshold was on February 25, when it lost 0.31 per cent to settle at 40,095.49 points.
However, the market capitalisation was still within the N20 trillion region at the close of transactions yesterday. It appreciated by N328 billion to N20.956 trillion from N20.628 trillion.
The buying pressure on Dangote Cement raised its parent index, the industrial goods higher by 4.08 per cent and it was the only of the five key sectors of the market that closed bullish on Thursday.
The banking space lost 0.30 per cent, the consumer goods counter depreciated by 0.13 per cent, the energy sector followed with a 0.12 per cent loss, while the insurance counter declined by 0.03 per cent.
The market breadth closed positive yesterday with 14 price losers and 20 price gainers led by University Press, which grew by 9.82 per cent to trade at N1.23.
Pharma Deko appreciated by 9.81 per cent to N2.35, May & Baker rose by 9.17 per cent to trade at N4.88, Sovereign Trust Insurance gained 9.09 per cent to sell for 24 kobo, while Consolidated Hallmark Insurance gained 7.55 per cent to quote at 57 kobo.
On the losers’ side, Chams was on top with an 8.70 per cent loss to finish at 21 kobo, Axa Mansard fell by 4.12 per cent to N2.33, Jaiz Bank went down by 3.23 per cent to 60 kobo, Livestock Feeds reduced by 2.69 per cent to N2.17, while Unilever Nigeria lost 2.22 per cent to trade at N13.20.
A total of 1.2 billion equities worth N7.4 billion were traded by investors yesterday in 3,752 deals as against the 474.4 million equities valued at N4.0 billion transacted in 3,547 deals a day earlier, indicating a rise in the trading volume, value and number of deals by 120.65 per cent, 85.25 per cent and 5.78 per cent respectively.
Transcorp Hotels was the most active stock of the session with an off-market cross of 763.9 million units valued at N2.9 billion, followed by FBN Holdings with the sale of 53.8 million units worth N430.5 million.
Transcorp sold 23.3 million shares valued at N22.2 million, GTCO transacted 19.4 million equities worth N544.4 million, while Coronation Insurance exchanged 18.3 million stocks worth N8.8 million.
The market was closed on Friday to mark Nigeria’s 61st Independence Day but will reopen next Monday.
Adedapo Adesanya 
Modupe Gbadeyanka