By Dipo Olowookere
The nation’s main stock exchange closed 0.18 per cent higher on Friday amid sustained bargain hunting by investors, especially in the energy and financial sectors.
Data from the Nigerian Exchange (NGX) Limited showed that the oil/gas space grew by 2.10 per cent yesterday and was trailed by the insurance counter, which appreciated by 1.47 per cent.
In addition, the banking sector improved by 1.23 per cent, the industrial goods index appreciated by 0.34 per cent, while the consumer goods sector depreciated by 0.42 per cent.
At the close of business, the All-Share Index (ASI) increased by 77.46 points to 42,038.60 points from 41,961.14 points, while the market capitalisation went up by N41 billion to N21.939 trillion from N21.898 trillion.
Business Post reports that investor sentiment was positive yesterday as the market breadth finished with 32 appreciating equities as against 19 depreciating stocks.
On top of the gainers’ chart was Guinness Nigeria, which rose by 10.00 per cent to finish at N36.30, followed by Custodian Investment, which gained 9.74 per cent to trade at N8.45.
AIICO Insurance appreciated by 9.73 per cent to sell for N1.24, University Press rose by 9.60 per cent to N2.17, while Wema Bank gained 9.46 per cent to quote at 81 kobo.
Conversely, Regency Assurance closed as the heaviest price loser with a price depreciation of 9.76 per cent to trade at 37 kobo, followed by CWG, which lost 9.60 per cent to quote at N1.13.
Sovereign Trust Insurance went down by 8.33 per cent to 22 kobo, Royal Exchange declined by 5.66 per cent to 50 kobo, while Dangote Sugar fell by 5.56 per cent to N17.00.
Yesterday, there was a significant increase in the level of activity buoyed by off-market transactions in Eterna and FBN Holdings, though the larger part of it was from the former.
A total of 801.3 million stocks of Eterna worth N10.8 billion exchanged hands during the session (with about 794 million units as the cross deal), while 57.0 million shares of FBN Holdings valued at N645.1 million were traded (with about 10 million as the off-market deal).
Furthermore, Transcorp recorded the sale of 27.9 million units worth N29.8 million, Wema Bank transacted 23.5 million equities valued at N18.5 million, while AIICO Insurance exchanged 21.8 million shares worth N27.0 million.
When trading activities were brought to an end on Friday, the volume of shares transacted by investors rose by 102.14 per cent to 1.1 billion units from the preceding day’s 558.9 million units.
Also, the value of the trades appreciated by 212.85 per cent to N13.8 billion from N4.4 billion, while the number of deals increased by 14.07 per cent to 5,342 deals from 4,683 deals.
