NGX Closes Flat Amid Sell-Offs in Consumer Goods, Industrial Goods Stocks

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited closed flat on Friday amid sell-offs in the consumer goods and industrial goods sectors, which shrank by 0.67 per cent and 0.01 per cent, respectively.

This came amid the 0.75 per cent rise posted by the insurance index, the 0.22 per cent growth recorded by the banking counter, and the 0.13 per cent jump achieved by the energy space.

Business Post reports that the All-Share Index (ASI) was marginally down by 0.05 points to settle at 97,100.31 points compared with the preceding day’s 97,100.36 points, while the market capital remained relatively unchanged at N 55.132 trillion.

Investor sentiment was bullish yesterday as the bourse finished with 23 price gainers and 21 price losers, indicating a positive market breadth index.

Oando gained 9.97 per cent to trade at N35.85, RT Briscoe grew by 9.68 per cent to N1.70, Omatek appreciated by 9.23 per cent to 71 Kobo, CWG expanded by 6.48 per cent to N5.75, and Thomas Wyatt advanced by 6.06 per cent to N1.75.

On the flip side, Learn Africa lost 9.97 per cent to finish at N3.52, Cadbury Nigeria depreciated by 9.95 per cent to N18.10, Neimeth declined by 9.17 per cent to N1.98, Secure Electronic Technology retreated by 8.89 per cent to 41 Kobo, and Deap Capital slumped by 8.51 per cent to 43 Kobo.

During the trading session, the activity chart improved, with the trading volume, value and number of deals expanding by 28.64 per cent, 114.29 per cent, and 6.14 per cent, respectively.

This was because investors bought and sold 349.0 million shares worth N7.5 billion in 7,677 deals compared with the 271.3 million shares worth N3.5 billion transacted in 7,233 deals in the previous trading session.

The busiest stock was GTCO with 90.9 million units valued at N4.2 billion, Oando transacted 30.4 million units for N992.2 million, Japaul traded 22.4 million units worth N50.1 million, Veritas Kapital exchanged 21.7 million units valued at N25.6 million, and Zenith Bank sold 16.7 million units for N633.3 million.