NGX All-Share Index Rises 0.09% to 254,299.49 Points

Dipo Olowookere

The Nigerian Exchange (NGX) Limited rallied by 0.09 per cent on Friday on sustained buying interest by investors.

This raised the All-Share Index (ASI) by 216.47 points to 254,299.49 points from 254,083.02 points, and lifted the market capitalisation by N140 billion to N165.114 trillion from N164.974 trillion.

Investor sentiment was weak yesterday despite the growth, as there were 25 appreciating equities and 32 depreciating equities, representing a negative market breadth index.

May and Baker rose by 10.00 per cent to N41.80, Honeywell Flour jumped by 10.00 per cent to N22.55, Livestock Feeds increased by 9.92 per cent to N13.30, Eterna grew by 9.90 per cent to N42.75, and PZ Cussons improved by 9.85 per cent to N71.95.

Conversely, Caverton declined by 10.00 per cent to N3.60, LivingTrust Mortgage Bank lost 9.94 per cent to settle at N2.90, Veritas Kapital shed 9.91 per cent to close at N1.00, UPDC depreciated by 9.46 per cent to N3.35, and Zichis slumped by 9.46 per cent to N16.66.

The activity level improved on the last trading session of the week and month of October, as market participants traded 997.6 million shares worth N85.8 billion in 37,870 deals compared with the 654.3 million shares valued at N57.4 billion transacted in 35,821 deals on Thursday, indicating a rise in the trading volume, value, and number of deals by 52.47 per cent, 49.48 per cent, and 5.72 per cent, respectively.

First Holdco was the most active after exchanging 580.4 million equities for N66.6 billion. Fidelity Bank sold 51.5 million stocks worth N1.2 billion, GTCO transacted 36.5 million shares valued at N4.4 billion, Sovereign Trust Insurance traded 22.7 million equities for N52.8 million, and AIICO Insurance ended with a turnover of 17.1 million stocks worth N61.9 million.

A look at the sectorial performance showed that the banking index slipped by 1.29 per cent, the insurance counter fell by 0.96 per cent, the consumer goods space tumbled by 0.07 per cent, and the energy segment depreciated by 0.06 per cent, while the industrial goods sector closed flat.