Industrial Goods, Consumer Goods Stocks Weaken Customs Street by 0.38%

By Dipo Olowookere

It was still a bad day for the Nigerian Exchange (NGX) Limited on Thursday as it lost 0.38 per cent at the close of transactions.

The loss recorded yesterday made it the fourth this week, meaning Customs Street has yet to post any growth in the week under review.

The industrial goods and the consumer goods sectors brought down the market during the session after shedding 0.09 per cent and 0.06 per cent, respectively.

But the energy index grew by 1.27 per cent, the insurance space appreciated by 1.12 per cent and the banking counter improved by 0.28 per cent.

When the bourse ended trading activities by 2:30 pm, the All-Share Index (ASI) was down by 372.00 points to 97,651.23 points from 98,023.23 points and the market capitalisation decreased by N225 billion to settle at N59.172 trillion compared with the previous day’s N59.397 trillion.

Yesterday, the duo of Veritas Kapital and Aradel Holdings were the worst-performing equities after depleting by 10.00 per cent to N1.44 and N495.10, respectively, as Secure Electronic Technology weakened by 9.09 per cent to 60 Kobo, RT Briscoe declined by 8.96 per cent to N3.05, and Beta Glass shed 7.25 per cent to N45.40.

On the flip side, Sunu Assurances was the best-performing equity after it chalked up 10.00 per cent to quote at N2.09, Eunisell appreciated by 9.89 per cent to N5.11, University Press gained 9.74 per cent to finish at N3.38, Cornerstone Insurance rose by 9.60 per cent to N2.74, and Prestige Assurance leapt by 9.26 per cent to 59 Kobo.

Unlike the previous trading session, the trading volume, value, and number of deals depreciated by 0.41 per cent, 34.64 per cent, and 9.72 per cent apiece.

This was because investors transacted 536.8 million shares worth N10.0 billion in 9,053 deals versus the 539.0 million shares valued at N15.3 billion in 10,028 deals traded on Wednesday.

UBA exchanged 74.3 million stocks for N2.2 billion, UAC Nigeria traded 55.1 million equities valued at N1.2 billion, Chams transacted 53.3 million shares worth N109.7 million, Jaiz Bank sold 46.0 million stocks valued at N104.4 million, and Veritas Kapital traded 40.3 million equities worth N59.3 million.