By Dipo Olowookere
The All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited reached a historic milestone of 69,236.19 points on Tuesday after it appreciated by 1.65 per cent or 1,124.48 points. In the preceding trading session, it closed at 68,111.71 points.
The improvement in the stock exchange’s benchmark index on the last trading day of October 2023 was buoyed by the sustained bargain-hunting activities yesterday due to the impressive Q3 earnings of companies on the bourse.
The persistent buying pressure increased the market capitalisation of NGX by N618 billion at the close of transactions to N38.039 trillion from N37.421 trillion.
Business Post reports that the consumer goods counter encountered selling pressure, leading to a 0.02 per cent decline, but this did not affect the overall outcome of Customs Streets.
This was because the insurance index appreciated by 1.87 per cent, the banking space grew by 0.94 per cent, and the industrial goods sector went up by 0.09 per cent, while the energy counter closed flat.
Investor sentiment remained strong on Tuesday as the market breadth index was positive, with 40 price gainers and 25 price losers.
Airtel Africa gained 10.00 per cent to close at N1,540.10, Cadbury Nigeria expanded by 9.92 per cent to N13.85, Northern Nigerian Flour Mills rose by 9.92 per cent to N19.95, Chams rose by 9.90 per cent to N2.22, and ABC Transport improved by 9.72 per cent to 79 Kobo.
On the flip side, Beta Glass depreciated by 9.93 per cent to trade at N60.30, University Press shed 9.79 per cent to close at N2.12, Ellah Lakes fell by 9.56 per cent to N3.50, Sovereign Trust Insurance slumped by 8.82 per cent to 31 Kobo, and Learn Africa declined by 8.79 per cent to N3.01.
At the market yesterday, investors traded 483.3 million shares valued at N6.1 billion in 8,027 deals versus the 430.4 million shares worth N8.3 billion in 7,656 deals, representing a decline in the trading value by 26.51 per cent, an increase in the trading volume by 12.29 per cent, and a rise in the number of deals of 4.85 deals.
The most active stock of the trading day was Japaul, which sold 155.6 million units for N181.9 million. UBA traded 33.9 million units worth N688.2 million, Zenith Bank exchanged 29.9 million units valued at N996.5 million, Access Holdings transacted 27.4 million units worth N468.7 million, and Chams traded 22.5 million units valued at N48.1 million.