Dipo Olowookere
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited further consolidated its gains on Friday after it closed higher by 0.54 per cent amid a decline in the level of activity.
A total of 600.6 million shares worth N9.1 billion were traded in 11,697 deals yesterday versus the 877.3 million shares worth N14.4 billion transacted in 14,919 deals on Thursday, indicating a decline in the trading volume, value, and the number of deals by 31.54 per cent, 36.81 per cent, and 21.60 per cent, respectively.
Transcorp ended the session as the most active stock with a turnover of 54.4 million units valued at N752.7 million, Access Holdings exchanged 45.0 million units worth N1.3 billion, UBA transacted 33.5 million units for N1.1 billion, Universal Insurance sold 33.3 million units for N12.1 million, and Sterling Holdings traded 33.2 million units valued at N216.4 million.
Apart from the industrial goods index, which came under selling pressure, leading to a decline of 0.07 per cent, every other sector closed higher on the last trading session of the week.
The consumer goods counter increased by 2.36 per cent, the insurance sector appreciated by 0.89 per cent, the banking counter improved by 0.54 per cent, and the energy sector grew by 0.19 per cent.
As a result, the All-Share Index (ASI) gained 445.92 points to close at 83,042.96 points compared with the previous day’s 82,597.04 points, and the market capitalisation moved up by N244 billion to settle at N45.443 trillion versus the previous day’s N45.199 trillion.
Business Post reports that investor sentiment was bullish yesterday after the NGX finished the day with 49 price gainers and 19 price losers, representing a positive market breadth index.
Mutual Benefits and Sunu Assurances led the gainers’ gang after they rose by 10.00 per cent each to quote at 77 Kobo and N1.43 apiece, Ikeja Hotel grew by 9.96 per cent to N8.61, Unilever Nigeria expanded by 9.94 per cent to N18.25, and Cadbury Nigeria soared by 9.82 per cent to N24.05.
Conversely, Industrial and Medical Gases led the losers’ group after it dropped 9.15 per cent to sell at N13.40, UPDC lost 7.26 per cent to trade at N1.66, Cutix fell by 5.00 per cent to N2.66, Omatek depreciated by 5.00 per cent to 95 Kobo, and FTN Cocoa retreated by 4.76 per cent to N2.00.
