Customs Street Opens Week With 0.03% Growth

By Dipo Olowookere

The first trading session of the new week at the Nigerian Exchange (NGX) Limited ended on a positive note with a marginal 0.03 per cent on Monday.

Customs Street was in the green territory yesterday as a result of the gains recorded by 29 stocks, which suppressed the losses reported by 21 stocks, representing a positive market breadth index and strong investor sentiment.

John Holt topped the advancers’ group after it rose further by 9.97 per cent to N8.49, Eunisell expanded by 9.92 per cent to N13.18, Beta Glass also chalked up 9.92 per cent to trade at N49.85, Lafarge Africa improved by 9.52 per cent to N46.00, and Tantalizers grew by 9.33 per cent to 82 Kobo.

On the flip side, MeCure Industries lost 9.65 per cent to finish at N11.70, The Initiates depreciated by N2.30, Thomas Wyatt fell by 8.85 per cent to N1.75, University Press declined by 7.83 per cent to N3.65, and Champion Breweries staggered by 6.88 per cent to N3.52.

During the session, investors bought and sold 413.4 million equities worth N5.3 billion in 9,004 deals versus the 295.2 million equities valued at N6.8 billion traded in 8,433 deals last Friday, implying a decline in the trading value by 22.06 per cent, and an increase in the trading volume and the number of deals by 40.04 per cent and 6.77 per cent, respectively.

Japaul was the busiest stock at the market on Monday with 179.1 million units worth N379.7 million, Consolidated Hallmark traded 36.8 million units valued at N75.2 million, Access Holdings sold 31.7 million units for N775.6 million, UBA transacted 17.3 million units valued at N580.6 million, and United Capital exchanged 10.2 million units worth N171.3 million.

Business Post reports that the banking index depreciated by 0.58 per cent, the consumer goods counter weakened by 0.27 per cent, and the energy sector crumbled by 0.08 per cent.

However, the industrial goods space appreciated by 0.66 per cent and the insurance sector improved by 0.42 per cent.

Consequently, the All-Share Index (ASI) went up by 24.99 points to 97,747.27 points from 97,722.28 points and the market capitalisation increased by N16 billion to N59.231 trillion from N59.215 trillion.