By Dipo Olowookere
The Nigerian Exchange (NGX) Limited was resuscitated by 0.20 per cent on Friday after Learn Africa and its group of price gainers ended in the green territory.
The local stock exchange was brought to life again after it was buried for a few days by selling pressure triggered by the profit-taking activities of investors.
Analysis of the market data by Business Post showed that the gain posted on the last trading session of this week was buoyed by bargain-hunting in the energy sector, particularly in Seplat, as the space closed higher by 3.30 per cent to suppress the losses printed by its peers.
The insurance index went down by 0.33 per cent, the banking counter depreciated by 0.20 per cent, the consumer goods space fell by 0.13 per cent, and the industrial goods sector declined by 0.06 per cent.
At the close of transactions, the All-Share Index (ASI) moved up by 202.38 points to 99,671.28 points from 99,468.90 points and the market capitalisation increased by N173 billion to N56.441 trillion from N56.268 trillion it ended a day earlier.
Learn Africa and Cutix gained 10.00 per cent each yesterday to quote at N3.52, and N4.62, respectively, and Caverton appreciated by 8.97 per cent to N1.58, Honeywell Flour grew by 8.86 per cent to N3.44, while Consolidated Hallmark surged by 7.41 per cent to N1.45.
On the other side of the coin, Red Star Express lost 9.80 per cent to settle at N4.05, DAAR Communications depreciated by 8.77 per cent to 52 Kobo, Guinness Nigeria contracted by 7.14 per cent to N65.00, Julius Berger deteriorated by 5.76 per cent to N83.50, and Africa Prudential dwindled by 5.73 per cent to N7.40.
The market breadth index, however, turned bearish at the close of business after the bourse ended with 23 price losers and 21 price gainers, showing a weak investor sentiment.
The activity level soared on Friday after the trading volume, value, and number of deals closed higher by 41.86 per cent, 23.64 per cent, and 6.89 per cent apiece.
Traders transacted 420.9 million equities worth N6.8 billion in 7,617 deals compared with the 296.7 million equities valued at N5.5 billion traded in 7,126 deals on Thursday.
Fidelity Bank topped the activity chart after trading 96.6 million shares valued at N1.0 billion, Ellah Lakes traded 46.5 million stocks worth N140.0 million, GTCO exchanged 42.7 million equities for N1.9 billion, Access Holdings transacted 26.2 million stocks worth N501.3 million, and UAC Nigeria sold 19.8 million shares valued at N280.0 million.
