Dipo Olowookere
By Dipo Olowookere
Transactions on the floor of the Nigerian Stock Exchange (NSE) closed bullish on Friday by 0.17 per cent on the back of more demand for financial equities.
While the banking sector appreciated by 0.41 per cent, the insurance index improved by 0.15 per cent, with the industrial goods space closing flat as the energy and consumer goods counters lost 0.33 per cent and 0.15 per cent respectively.
At the close of business, the All-Share Index (ASI) increased 66.56 points to 38,866.39 points from 38,799.83 points, while the market capitalisation rose by N35 billion to N20.335 trillion from N20.300 trillion.
During the session, the last for the week, investors exchanged 160.6 million stocks worth N1.3 billion in 3,507 deals compared with the 145.3 million shares worth N1.6 billion traded in 3,525 deals the previous day, indicating a 10.54 per cent rise in the trading volume, 18.72 per cent decline in the trading value and 0.51 per cent drop in the number of deals.
The most traded stock for the day was Mutual Benefits Assurance as it transacted 22.9 million units valued at N9.0 million and was trailed by Access Bank, which traded 18.8 million units worth N150.8 million.
Japaul sold 14.9 million equities valued at N8.6 million, GTBank exchanged 9.2 million stocks for N266.9 million, while Transcorp sold 8.3 million shares for N6.5 million.
Business Post reports that the market breadth closed at equilibrium yesterday with 14 price gainers and 14 price losers.
Honeywell Flour topped the gainers’ chart after its value rose by 8.85 per cent to N1.23, with Sovereign Trust Insurance rising by 8.70 per cent to 25 kobo.
Japaul gained 8.62 per cent to close at 63 kobo, Livestock Feeds appreciated by 7.22 per cent to N1.93, while FCMB went up by 6.57 per cent to N2.92.
On the losers’ table, Guinness Nigeria occupied the zenith position after its equity price went down by 10.00 per cent to trade at N29.70.
Unity Bank declined by 9.86 per cent to 64 kobo, ABC Transport dropped 9.09 per cent to 30 kobo, Mutual Benefits Assurance lost 7.14 per cent to end at 39 kobo, while UAC Property declined by 6.25 per cent to 75 kobo.
