By Dipo Olowookere
The Nigerian Exchange (NGX) Limited maintained its bullish run on Tuesday after it chalked up 2.97 per cent at the close of transactions.
This increased the All-Share Index (ASI) by 2,848.85 points to almost the 100,000-point psychological threshold, closing at 98,616.97 points compared with the 95,768.12 points recorded on Monday.
In the same vein, the market capitalisation went up by N1.559 trillion to settle at N53.967 trillion at the preceding day’s value of N52.408 trillion.
Business Post reports that the industrial goods sector, the energy counter and the consumer goods index kept Customs Street flying high after closing higher by 8.96 per cent, 5.56 per cent, and 1.88 per cent, respectively.
It was observed that the financial services sector, like the preceding trading day, remained under selling pressure, with the insurance index declining by 4.68 per cent, and the banking counter losing 2.66 per cent.
Investor sentiment was weak during the session, as the bourse finished with 58 price losers and 17 price gainers, indicating a negative market breadth index.
Seplat and BUA Cement sat on top of the advancers’ log after they gained 10.00 per cent each to trade at N2,795.10 and N163.35 apiece, Dangote Cement rose by 9.99 per cent to N651.80, Eterna improved by 9.92 per cent to N27.70, and Meyer jumped by 9.88 per cent to N3.56.
On the flip side, Deap Capital, May & Baker, Veritas Kapital, PZ Cussons, and John Holt lost 10.00 per cent each to quote at 81 Kobo, N7.38, 63 Kobo, N31.50, and N2.70, respectively.
A total of 747.5 million equities worth N16.3 billion exchanged hands in 16,589 deals yesterday versus the 721.8 million equities worth N14.4 billion traded in 15,757 deals a day earlier, implying growth in the trading volume, value, and the number of deals by 3.56 per cent, 13.19 per cent, and 5.28 per cent apiece.
The most active stock remained Transcorp, which sold 77.7 million units for N1.3 billion, trailed by Sterling Holdings, which transacted 72.3 million units for N485.7 million. UBA traded 52.7 million shares valued at N1.6 billion, Access Holdings exchanged 71.7 million stocks worth N1.4 billion, and Zenith Bank traded 32.0 million equities valued at N1.3 billion.
