By Dipo Olowookere
The Nigerian Exchange (NGX) Limited appreciated by 1.73 per cent on Wednesday amid interest in some blue-chips equities trading on the platform, including Airtel Africa.
The stock price of the telco rose by the maximum 10.00 per cent at the midweek session to close at N1,155.50 and was trailed by Cornerstone Insurance, which gained 6.00 per cent to trade at 53 kobo.
Courtville appreciated by 5.26 per cent to quote at 40 kobo, Union Bank rose by 4.46 per cent to N5.85, while Seplat improved by 4.36 per cent to sell for N720.10.
On the flip side, FTN Cocoa topped the losers’ chart yesterday with a price depreciation of 7.69 per cent to trade at 36 kobo, Consolidated Hallmark Insurance lost 7.25 per cent to close at 64 kobo, Regency Assurance fell by 6.67 per cent to 42 kobo, Japaul depreciated by 4.76 per cent to 40 kobo, while Jaiz Bank went down by 4.55 per cent to 63 kobo.
At the close of business, a total of 16 stocks appreciated in price while 17 stocks depreciated in price, indicating a negative market breadth and a weak investor sentiment.
Business Post reports that only the consumer goods sector ended bearish as it dropped 0.02 per cent as the industrial goods sector closed flat, with the energy, insurance and banking counters appreciating by 2.21 per cent, 0.59 per cent and 0.50 per cent respectively.
When the closing gong was beaten by 2:30 pm yesterday, the All-Share Index (ASI) rose by 774.25 points to 45,430.14 points from 44,655.89 points, while the market capitalisation expanded by N417 billion to N24.477 trillion from N24.060 trillion.
It was observed that the activity level improved on Wednesday as investors traded 252.9 million stocks valued at N8.9 billion in 4,218 deals as against the 235.2 million stocks valued at N1.9 billion transacted on Tuesday in 4,151 deals, indicating an increase in the trading volume, value and number of deals by 7.53 per cent, 365.28 per cent and 1.61 per cent respectively.
GTCO emerged as the most active stock of the session with a turnover of 25.5 million units valued at N649.4 million, followed by Dangote Cement, which commenced its share buy-back scheme during the session with the sale of 24.5 million units worth N6.5 billion.
FBN Holdings traded 23.1 million shares for N277.2 million, Fidelity Bank exchanged 21.1 million equities worth N57.2 million, while FCMB exchanged 12.9 million stocks for N38.8 million.
Adedapo Adesanya 
Modupe Gbadeyanka