Customs Street Regains 0.56% as Traders Pocket N683bn

By Dipo Olowookere

A rebound of 0.56 per cent was recorded by Customs Street on Wednesday after it suffered a loss a day earlier due to profit-taking by investors.

At midweek, traders mopped up equities they project to fetch good returns in the coming days, and this strategy lifted the Nigerian Exchange (NGX) Limited at the close of transactions, though the mood was bearish.

According to data, three of the five sectors tracked by Business Post were in green, with the insurance sector down by 0.20 per cent, and the industrial goods space down by 0.04 per cent.

The energy index was up by 3.87 per cent due to demand for Seplat and other stocks, the banking segment appreciated by 0.67 per cent, and the consumer goods counter improved by 0.31 per cent.

As a result, the All-Share Index (ASI) went up by 1,065.02 points to 190,427.96 points from 189,362.94 points, and the market capitalisation increased by N683 billion to N122.236 trillion from N121.553 trillion.

SAHCO led the gainers’ group after growing by 10.00 per cent to N128.70, AXA Mansard appreciated by 10.00 per cent to N17.05, Beta Glass also grew by 10.00 per cent to N498.50, Zichis gained 9.95 per cent to sell for N14.36, and Japaul soared by 9.90 per cent to N3.33.

On the flip side, Deap Capital lost 10.00 per cent to trade at N6.30, Mecure decreased by 9.99 per cent to N84.25, Vitafoam Nigeria shrank by 9.98 per cent to N116.85, Union Dicon contracted by 9.80 per cent to N18.40, and Abbey Mortgage Bank retreated by 9.62 per cent to N10.80.

The market breadth index was negative after the bourse finished with 34 price gainers and 42 price losers.

FCMB led the activity chart yesterday with a turnover of 2.9 billion units sold for N35.9 billion, Chams traded 59.3 million units worth N249.0 million, Secure Electronic Technology exchanged 52.3 million units valued at N104.5 million, Mutual Benefits transacted 37.6 million units for N165.3 million, and Access Holdings traded 34.8 million units valued at N876.8 million.

At the close of trades, 3.7 billion stocks valued at N61.9 billion exchanged hands in 68,693 deals during the trading day versus the 1.2 billion stocks worth N60.2 billion transacted in 86,607 deals on Tuesday.

This showed that the number of deals was down by 20.68 per cent, while the trading volume and value went up by 208.33 per cent and 2.82 per cent, respectively.