Dipo Olowookere
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited further appreciated by 0.38 per cent on Monday amid interest in banking and consumer goods equities, especially in Zenith Bank, Access Holdings, Nigerian Breweries, Cadbury Nigeria, and others.
At the close of trades, the All-Share Index (ASI) increased its value by 170.23 points to settle at 44,662.96 points, in contrast to last Friday’s value of 44,492.73 points, as the market capitalisation jumped by N93 billion to close at N24.327 trillion compared with the preceding session’s N24.234 trillion.
Yesterday, investors transacted 151.2 million shares worth N1.9 billion in 3,530 deals as against the 146.7 million shares worth N1.2 billion transacted in 3,028 deals last Friday, representing an improvement in the trading volume, value and number of deals by 3.08 per cent, 53.31 per cent, and 16.58 deals apiece.
This was due to the 35.2 million equities sold by Transcorp, the 29.9 million stocks traded by AIICO Insurance, the 11.5 million shares traded by Zenith Bank, the 9.5 million stocks transacted by FBN Holdings, and the 9.3 million equities exchanged by Union Bank.
Business Post reports that the sustained bargain-hunting activity at the bourse yesterday triggered a positive market breadth as the exchange finished with 26 price gainers and six price losers, indicating a strong investor sentiment.
The demand for Nigerian Breweries stocks raised its price by 9.94 per cent during the trading day to N45.35, as NEM Insurance appreciated by 9.87 per cent to N4.12. PZ Cussons rose by 8.72 per cent to N9.35, Cadbury Nigeria improved by 7.32 per cent to N11.00, and Chams gained 4.35 per cent to settle at 24 Kobo.
On the flip side, Japaul lost 7.14 per cent to trade at 26 Kobo, AIICO Insurance decreased by 5.36 per cent to 53 Kobo, Axa Mansard succumbed by selling pressure by 5.08 per cent to drop to N1.68, Sterling Bank went down by 1.41 per cent to N1.40, and Jaiz Bank shrank by 1.11 per cent to 89 Kobo.
Analysis of the sectorial performance showed that only the industrial goods counter finished in the red territory on Monday as it shed 0.03 per cent.
However, its consumer goods cousin improved by 2.44 per cent, the banking index rose by 1.25 per cent, the insurance sector went up by 0.18 per cent, and the energy counter closed higher by 0.15 per cent.
