Dipo Olowookere
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited returned to the green territory on Thursday, gaining 0.99 per cent at the close of transactions to reverse the loss it printed in the preceding trading session.
The growth recorded by Customs Street was influenced by buying interests in MTN Nigeria, Zenith Bank, Dangote Cement, Stanbic IBTC Holdings, Ikeja Hotels and others.
Analysis of the performances of key sectors of the bourse showed that apart from the banking index, which went down by 0.22 per cent, every other finished stronger.
The insurance counter appreciated by 2.07 per cent, the industrial goods sector improved by 1.10 per cent, the consumer goods counter gained 0.11 per cent and the energy space rose by 0.02 per cent.
Consequently, the All-Share Index (ASI) went up by 733.94 points to 74,502.58 points from 73,768.64 points, and the market capitalisation enlarged by N402 billion to N40.769 trillion from N40.367 trillion.
Like the previous trading session, investor sentiment was bullish as there were 36 price gainers and 27 price losers, indicating a positive market breadth index.
Ikeja Hotels rose by 10.00 per cent to N5.50, Multiverse grew by 9.96 per cent to N16.89, Julius Berger solidified its value by 9.94 per cent to N39.80, Industrial and Medical Gases rose by 9.87 per cent to N12.25, and McNichols gained 9.86 per cent to close at 78 Kobo.
On the flip side, UAC Nigeria shed 10.00 per cent to quote at N12.15, John Holt fell by 9.73 per cent to N2.32, Deap Capital tripped by 9.38 per cent to 58 Kobo, RT Briscoe depreciated by 8.96 per cent to 61 Kobo, and United Capital dropped 7.53 per cent to N22.10.
At the bourse yesterday, the level of activity waned as investors are rebalancing their portfolios, taking stock of their transactions this year.
A total of 384.6 million shares worth N5.7 billion exchanged hands in 8,336 deals during the trading session versus the 432.9 million shares worth N12.9 billion transacted in 8,901 deals in the midweek session, representing a decline in the trading volume, value, and number of deals by 11.16 per cent, 55.81 per cent, and 6.35 per cent, respectively.
The busiest stock on Thursday was Jaiz Bank, which transacted 49.4 million units valued at N83.2 million, with Zenith Bank trading 27.9 million units worth N1.1 billion. Access Holdings exchanged 23.4 million equities worth N539.2 million, Veritas Kapital sold 21.7 million stocks for N7.8 million, and Transcorp traded 19.4 million shares valued at N165.4 million.
