Demand for Ardova, Transcorp, Others Lifts Stock Market by 0.10%
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited rebounded by 0.10 per cent on Friday as investors went for Ardova, MRS Oil, Transcorp, UBA, and other stocks.
The growth posted by the stock market on the last trading session of the week was supported by most of the sub-sectors of the bourse, with the energy index rising by 1.36 per cent.
The insurance sector appreciated by 0.65 per cent, the banking counter improved by 0.22 per cent, and the industrial goods space went up by 0.02 per cent, while the consumer goods sector depreciated by 0.13 per cent.
When the market closed for the day, the All-Share Index (ASI) increased by 53.38 points to 52,214.62 points from 52,161.24 points, and the market capitalisation expanded by N29 billion to N28.431 trillion from N28.402 trillion.
Investors bought and sold 1.4 billion shares worth N11.0 billion in 5,527 deals, in contrast to the 477.4 million shares worth N5.2 billion traded in 5,539 deals on Thursday, indicating a decline in the number of deals by 0.22 per cent and a surge in the trading volume and value by 196.94 per cent and 111.54 per cent, respectively.
Fidelity Bank traded the highest volume of equities during the session with a turnover of 942.8 million units valued at N5.5 billion, Access Holdings exchanged 170.0 million units worth N1.7 billion, FBN Holdings sold 81.1 million units valued at N973.4 million, Aluminium Extrusion traded 36.1 million units for N234.3 million, and AXA Mansard transacted 24.6 million units valued at N60.9 million.
MRS Oil recorded the biggest price growth as its value rose by 9.93 per cent to N33.75, Academy Press jumped by 9.87 per cent to N1.67, Ikeja Hotel gained 9.86 per cent to finish at N1.56, Transcorp chalked up 9.75 per cent to close at N2.59, and Ardova increased by 9.09 per cent to N26.40.
On the flip side, C&I Leasing lost 9.86 per cent to quote at N3.20, Prestige Assurance depreciated by 9.76 per cent to 37 Kobo, Royal Exchange fell by 6.90 per cent to 54 Kobo, Courteville declined by 6.52 per cent to 43 Kobo, and Livestock Feeds shed 6.42 per cent to N1.02.