Dipo Olowookere
By Dipo Olowookere
Despite a decline in the trading volume, the Nigerian Exchange (NGX) Limited further appreciated by 0.12 per cent on Friday, with the year-to-date return at 38.75 per cent.
Buying pressure on shares of MeCure, Northern Nigerian Flour Mills, Seplat, Okomu Oil, Guinea Insurance and others influenced the growth posted by the domestic bourse yesterday.
They left the energy index higher at 3.71 per cent and the insurance sector higher at 1.40 per cent, though profit-taking brought down the consumer goods and the industrial goods sectors by 0.07 per cent and 0.04 per cent apiece, while the banking counter closed flat.
At the close of transactions, the All-Share Index (ASI) moved up by 87.83 points to 71,112.99 points from 71,025.16 points and the market capitalisation grew by N48 billion to N39.108 trillion from N39.060 trillion.
A total of 441.6 million equities valued at N6.0 billion exchanged hands in 5,883 deals on Friday versus the 483.9 million equities worth N4.4 billion transacted in 6,545 deals on Thursday, indicating a surge in the trading value by 36.36 per cent, a decline in the trading volume by 8.74 per cent and shrink in the number of deals by 10.11 per cent.
Jaiz Bank topped the activity chart with a turnover of 95.2 million stocks valued at N153.2 million, GTCO transacted 35.3 million equities worth N1.3 billion, The Initiates traded 29.5 million shares valued at N28.2 million, Japaul sold 29.1 million equities for N49.9 million, and C&I Leasing exchanged 19.5 million stocks for N90.8 million.
Business Post reports that investor sentiment remained bullish with 36 price gainers and 19 price losers, indicating a positive market breadth index.
Prestige Assurance and Multiverse closed the session as the best-performing stocks after chalking up 10.00 per cent each to settle at 55 Kobo and N3.63 apiece, as MeCure rose by 9.98 per cent to N5.73, C&I Leasing grew by 9.93 per cent to N4.98, and Northern Nigerian Flour Mills expanded by 9.89 per cent to N23.90.
Conversely, ABC Transport finished the day as the worst-performing stock after it dropped 10.00 per cent to quote at 81 Kobo, Beta Glass lost 9.92 per cent to trade at N54.00, The Initiates declined by 9.80 per cent to 92 Kobo, Japaul shed 9.09 per cent to end at N1.70, and Royal Exchange slumped by 8.93 per cent to 51 Kobo.
