By Dipo Olowookere
Renewed appetite for local stocks raised the All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited above 66,000 points on Monday.
Business Post reports that investor sentiment was strong yesterday, as traders cherry-picked equities across the major sectors of the domestic bourse.
This elevated Customs Street by 0.90 per cent at the close of transactions, as the confidence of investors in the market is gradually building up again.
Consequently, the benchmark performance indicator increased by 592.47 points to 66,151.38 points from 65,558.91 points, and the market capitalisation grew by N324 billion to N36.205 trillion from N35.881 trillion.
The consumer goods and the industrial goods sectors appreciated by 5.86 per cent and 0.03 per cent apiece, covering up for the 0.90 per cent loss printed by the banking space and the 0.35 per cent decline suffered by the insurance counter, as the energy index closed flat.
The bourse had more price gainers than price losers at 34 and 24, respectively, representing a positive market breadth index.
Transcorp, Thomas Wyatt, Dangote Sugar and Omatek gained 10.00 per cent each to close at N6.38, N1.87, N52.25, and 33 Kobo apiece, as SFS REIT appreciated by 9.96 per cent to N92.15.
On the flip side, CWG declined by 10.00 per cent to N4.50, John Holt shrank by 9.80 per cent to N1.38, NEM Insurance lost 9.54 per cent to trade at N5.12, Secure Electronic Technology dropped 9.09 per cent to sell at 30 Kobo, and Cutix depleted by 8.33 per cent to N2.20.
On the first trading day of the week, a total of 311.1 million equities worth N3.9 billion were transacted in 7,193 deals compared with the 356.0 million equities worth N4.2 billion traded in 6,569 deals in the previous trading session, implying an increase in the number of deals by 9.50 per cent, and a fall in the trading volume and value by 12.61 per cent and 7.14 per cent apiece.
Access Holdings topped the activity log after selling 43.7 million stocks for N703.3 million, Transcorp exchanged 28.5 million shares worth N181.7 million, Dangote Sugar traded 16.0 million equities valued at N820.8 million, Consolidated Hallmark Insurance traded 15.6 million shares worth N13.5 million, and Omatek transacted 15.5 million stocks valued at N4.7 million.
