By Dipo Olowookere
The Nigerian Exchange (NGX) Limited sustained its winning streak for the fourth consecutive trading day on Thursday, rising by 0.07 per cent despite mild profit-taking in most sectors of the bourse.
It was observed that the upward trajectory maintained by Customs Street during the session was buoyed by bargain-hunting in the banking space, which marginally improved by 0.21 per cent.
Business Post reports that the insurance sector depreciated by 1.05 per cent, the consumer goods counter fell by 0.06 per cent, and the industrial goods index went down by 0.02 per cent, while the energy sector closed flat.
When the closing gong sounded by 2:30 pm yesterday, signifying the end of trading activities for the session, the All-Share Index (ASI) was slightly up by 46.27 points to 70,819.58 points from 70,773.31 points, and the market capitalisation was up by N26 billion to N38.911 trillion from N38.885 trillion.
Investor sentiment turned bearish on Thursday after the market breadth index was negative due to the exchange closing with 27 price losers and 26 price gainers.
UPDC gained 9.91 per cent to close at N1.22, Mecure rose by 9.85 per cent to N3.57, SCOA Nigeria improved by 9.73 per cent to N1.24, Japaul increased by 9.58 per cent to N1.83, and UAC Nigeria appreciated by 8.47 per cent to N16.00.
Conversely, VFD Group lost 10.00 per cent to quote at N184.50, Multiverse depreciated by 9.37 per cent to N2.90, The Initiates shed 9.35 per cent to settle at 97 Kobo, Regency Alliance went down by 8.57 per cent to 32 Kobo, and DAAR Communications dropped 8.33 per cent to close at 22 Kobo.
Japaul ended the trading session as the busiest stock with a turnover of 113.0 million units valued at N208.6 million, Stanbic IBTC traded 96.9 million units worth N6.8 billion, UBA sold 75.2 million units for N1.6 billion, FBN Holdings exchanged 42.7 million units worth N849.8 million, and Fidelity Bank transacted 34.7 million units valued at N319.1 million.
According to data from the bourse, a total of 569.2 million equities worth N16.8 billion exchanged hands in 6,169 deals yesterday versus the 558.3 million equities worth N9.8 billion transacted in 6,401 deals in the midweek session, showing a decline in the number of deals by 3.62 per cent, a rise in the trading volume by 1.95 per cent, and a surge in the trading value by 71.43 per cent.
