By Dipo Olowookere
Renewed buy interest in energy equities kept the bulls further at the Nigerian Exchange (NGX) Limited on Friday.
Customs Street closed higher by 0.32 per cent yesterday on the back of the buy interest in Aradel Holdings and Conoil by investors as the market regains lost grounds.
Business Post reports that the energy index appreciated during the session by 1.37 per cent as other key sectors struggle to find their footing.
The banking counter lost 0.16 per cent, the insurance space declined by 0.10 per cent, the industrial goods index weakened by 0.02 per cent, and the consumer goods sector shed 0.01 per cent.
But at the close of transactions, the All-Share Index (ASI) jumped by 311.33 points to 97,236.19 points from 96,924.86 points, and the market capitalisation grew by N188 billion to N58.920 trillion from the preceding day’s N58.732 trillion.
Investor sentiment remained strong as the bourse ended with 30 appreciating shares and 23 depreciating shares, representing a positive market breadth index.
Aradel Holdings topped the gainers’ table after it chalked up 10.00 per cent to sell for N485.30, Conoil appreciated by 9.94 per cent to N260.00, John Holt jumped by 9.82 per cent to N4.81, Lasaco Assurance increased by 9.09 per cent to N2.40, and FTN Cocoa gained 8.00 per cent to trade at N1.89.
On the flip side, Meyer lost 9.98 per cent to quote at N7.67, Abbey Mortgage Bank depreciated by 9.83 per cent to N2.66, Eterna waned by 9.82 per cent to N24.80, Sunu Assurances slipped by 9.65 per cent to N2.06, and Deap Capital slumped by 9.32 per cent to N1.07.
Yesterday, the busiest stock was Sterling Holdings with 199.4 million units sold for N620.5 million, Ellah Lakes traded 91.6 million units valued at N337.3 million, Access Holdings exchanged 54.5 million units for N1.3 billion, Fidelity Bank transacted 25.8 million units worth N387.6 million, and GTCO traded 22.5 million units valued at N1.2 billion.
At the close of transactions, investors bought and sold 478.9 million equities valued at N9.4 billion in 9,015 deals versus the 744.5 million equities worth N16.5 billion traded in 9,700 deals on Thursday, indicating a decline in the trading volume, value, and number of deals by 35.68 per cent, 43.03 per cent and 7.06 per cent, respectively.
