Dipo Olowookere
By Dipo Olowookere
The demand for industrial goods and banking stocks lifted the mood at the market on Thursday, resulting in the growth of investors’ wealth by N109 billion.
Business Post reports that the market appreciated by 0.54 per cent on the back of bargain hunting for Zenith Bank, GTBank and Dangote Sugar securities.
As a result, the All-Share Index (ASI) increased by 208.71 points to 38,914.84 points from 38,706.13 points, while the market capitalisation grew by N109 billion to N20.360 trillion from N20.251 trillion.
During the session, Eterna topped the gainers’ chart of 22 members after its equity price rose by 9.96 per cent to close at N5.08.
Lasaco Assurance gained 8.33 per cent to trade at N1.30, Zenith Bank appreciated by 7.32 per cent to sell at N22, GTBank gained 6.43 per cent to quote at N29.80, while Dangote Sugar appreciated by 6.25 per cent to trade at N17.
Business Post reports that the market closed with 12 price losers and they were led by Linkage Assurance, which depreciated by 9.09 per cent to 50 kobo.
Coronation Insurance (Wapic) lost 9.09 per cent to trade at 50 kobo, ABC Transport declined by 6.67 per cent to 28 kobo, Sterling Bank fell by 6.37 per cent to close at N1.47, while Honeywell Flour dropped 5.60 per cent to quote at N1.18.
The activity chart was mixed yesterday as the number of deals depreciated by 1.54 per cent to 4,040 deals from 4,103 deals, while the trading volume and value rose by 727.76 per cent and 118.67 per cent respectively as investors traded 1.5 billion stocks worth N5.9 billion compared with the 177.8 million units worth N2.7 billion traded the preceding day.
Unity Bank was the most traded stock yesterday as it sold 1.0 billion units worth N700.7 million and was trailed by Multiverse, which sold 200.2 million shares worth N40.0 million.
GTBank traded 122.2 million equities worth N3.6 million, Zenith Bank exchanged 32.8 million stocks for N711.9 million, while FBN Holdings transacted 19.0 equities valued at N137.8 million.
The banking and industrial goods sectors appreciated on Thursday by 4.40 per cent and 0.16 per cent respectively, while the insurance, consumer goods and energy counters lost 0.78 per cent, 0.24 per cent and 0.13 per cent respectively.
