Economy
Customs Street Appreciates 0.15% Amid Weak Investor Sentiment
By Dipo Olowookere
The bulls cemented their presence on Customs Street on Thursday, strengthening the key performance indicators by 0.15 per cent at the close of business.
This growth was fragile, as the bears almost overran the Nigerian Exchange (NGX) Limited during the session. The slim appreciation was driven by interest in Seplat Energy.
When the market closed for the day, the All-Share Index (ASI) grew by 369.05 points to 246,388.22 points from the previous day’s 246,019.17 points, and the market capitalisation expanded by N238 billion to N159.153 trillion from N158.915 trillion.
Business Post reports that investor sentiment was weak yesterday after the bourse finished with 22 price gainers and 33 price losers, indicating a negative market breadth index.
Seplat gained 10.00 per cent to close at N13,552.60, UPDC REIT rose by 9.88 per cent to N13.90, Learn Africa increased by 9.49 per cent to N8.65, Regency Alliance soared by 4.76 per cent to 88 Kobo, and Jaiz Bank advanced by 4.22 per cent to N8.65.
On the flip side, RT Briscoe fell by 10.00 per cent to N9.90, CMFC shed 9.86 per cent to N2.56, Sovereign Trust Insurance declined by 9.73 per cent to N2.04, Abbey Bank crashed by 9.68 per cent to N7.00, and DAAR Communications went down by 8.28 per cent to N1.55.
A total of 434.0 million stocks worth N29.3 billion exchanged hands in 42,303 deals on Thursday versus the 426.8 million stocks valued at N28.4 billion traded in 41,475 deals on Wednesday. This showed that the trading volume increased by 1.69 per cent, the trading value jumped by 3.17 per cent, and the number of deals soared by 2.00 per cent.
UBA was the busiest equity after transacting 113.3 million units for N5.2 billion. GTCO traded 34.3 million units worth N4.6 billion, Access Holdings exchanged 24.9 million units valued at N747.8 million, Sovereign Trust Insurance sold 21.2 million units worth N46.7 million, and Coronation Insurance closed with a turnover of 20.6 million units valued at N48.5 million.
