By Dipo Olowookere
The Nigerian Exchange (NGX) Limited returned to winning ways on Monday, reversing the losses posted in the last trading session as it appreciated by 0.02 per cent at the close of transactions.
The gains recorded by Customs Street yesterday was influenced by buying interest in banking and industrial goods equities, with traders cherry-picking stocks in other sectors.
Data showed that the energy index grew by 0.09 per cent, the banking space appreciated by 0.07 per cent, and industrial goods sector expanded by 0.03 per cent, while the insurance counter lost 1.30 per cent and the consumer goods sector went down by 0.09 per cent.
As for the All-Share Index (ASI), it increased by 15.68 points to 72,404.91 points from 72,389.23 points and the market capitalisation rose by N8 billion to N39.621 trillion from N39.613 trillion.
Business Post reports that the activity chart was mixed on Monday value of transactions declined by 33.33 per cent, while the volume of trades and the number of deals went up by 5.57 per cent and 12.12 per cent, respectively.
Traders traded 324.3 million shares valued at N4.4 billion in 6,745 deals yesterday compared with the 307.2 million shares worth N6.6 billion transacted in 6,016 deals last Friday.
Mutual Benefits was the most active stock as it exchanged 42.1 million units worth N20.4 million, UBA sold 28.7 million units valued at N689.9 million, Transcorp transacted 24.1 million units for N167.0 million, Sterling Holdings traded 20.2 million units valued at N85.0 million, and Zenith Bank transacted 17.2 million units worth N635.3 million.
It was observed that despite the upward movement recorded by the bourse on the first trading session of the week, investor sentiment was weak as the market breadth index was negative with 33 price losers and 18 price gainers.
Infinity Trust Mortgage Bank maintained its upward posture after it gained 9.93 per cent during the session to close at N3.10, John Holt rose by 9.87 per cent to trade at N2.45, Transcorp Hotels soared by 9.38 per cent to N51.30, SCOA Nigeria increased by 8.62 per cent to N1.89, and FTN Cocoa recorded a 7.53 per cent growth to settle at N1.57.
Conversely, ABC Transport lost 9.89 per cent to sell for 82 Kobo, eTranzact shed 9.42 per cent to quote at N6.25, RT Briscoe weakened by 8.33 per cent to 55 Kobo, Sovereign Trust Insurance moderated by 7.69 per cent to 36 Kobo, and The Initiates receded by 6.84 per cent to N1.09.
