NGX All-Share Index Rises 0.18% Amid Subdued Buying Interest

By Dipo Olowookere

The first trading session of this week at the Nigerian Exchange (NGX) limited ended on a positive note on Monday with a 0.18 per cent growth despite a subdued buying interest resulting in a decline in trading volume and value.

At the bourse yesterday, the volume of transactions went down by 25.51 per cent to 375.3 million shares from 503.8 million, the value of trades depreciated by 45.83 per cent to N3.9 billion from N7.2 billion, while the number of deals increased by 21.99 per cent to 7,011 deals from 5,747 deals.

Veritas Kapital finished the day on top of the activity chart with the sale of 88.8 million stocks valued at N31.9 million, Universal Insurance exchanged 44.4 million equities worth N12.7 million, Access Holdings transacted 30.4 million shares valued at N612.7 million, Fidelity Bank traded 23.7 million stocks worth N216.2 million, and UBA sold 12.9 million equities for N291.3 million.

Business Post reports that the insurance sector was the only decliner among the major sectors tracked during the session, losing 0.21 per cent.

The banking space rose by 1.59 per cent, the industrial goods index appreciated by 0.21 per cent, and the consumer goods counter improved by 0.03 per cent, while the energy sector closed flat.

Consequently, the All-Share Index (ASI) garnered 128.17 points to settle at 71,669.91 points compared with last Friday’s 71,541.74 points and the market capitalisation increased by N70 billion to N39.219 trillion from N39.149 trillion.

On the price movement chart, SFS REIT ended on top of the advancers’ table after it chalked up 9.98 per cent to trade at N101.35, Ecobank rose by 9.88 per cent to N22.80, Deap Capital appreciated by 9.84 per cent to 67 Kobo, SCOA Nigeria jumped by 9.63 per cent to N1.48, and Infinity Trust Mortgage Bank soared by 9.60 per cent to N1.94.

Conversely, RT Briscoe lost 9.68 per cent to settle at 56 Kobo, Secure Electronic Technology shed 9.33 per cent to close at 68 Kobo, NEM Insurance fell by 9.32 per cent to quote at N5.35, Northern Nigerian Flour Mills depreciated by 8.44 per cent to N35.25, and UPDC REIT dropped 8.00 per cent to finish at N4.60.

Investor sentiment remained bullish on Monday as there were 30 appreciating shares and 23 depreciating shares, also indicating a positive market breadth index.