Dipo Olowookere
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited closed higher by 0.43 per cent on Tuesday amid renewed buying interest in financial, energy and industrial goods equities.
Bargain-hunting activities were observed across the sectors during the trading session, with the banking space growing by 2.75 per cent at the close of transactions.
Analysis indicated that the insurance counter improved by 0.20 per cent, the industrial goods index appreciated by 0.05 per cent, and the energy sector gained 0.03 per cent, while the consumer goods space closed flat.
Consequently, the All-Share Index (ASI) increased by 288.19 points to finish at 67,326.12 points compared with Monday’s 67,037.93 points, and the market capitalisation expanded by N158 billion to close at N36.989 trillion versus the previous day’s N36.831 trillion.
Julius Berger was the biggest price gainer on Tuesday as its share price rose by 10.00 per cent to N36.30 and was trailed by CWG, which gained 9.83 per cent to settle at N9.50. Champion Breweries jumped by 9.76 per cent to N3.71, Oando chalked up 9.58 per cent to trade at N9.15, and Thomas Wyatt went up by 9.29 per cent to N3.06.
On the flip side, Multiverse ended the day as the biggest price loser after it dropped 9.49 per cent to quote at N2.67, Unity Bank depreciated by 9.00 per cent to 91 Kobo, Ellah Lakes lost 8.05 per cent to close at N4.00, Nigerian Breweries declined by 7.38 per cent to N38.90, and eTranzact shed 6.67 per cent to N8.40.
At the close of business, the gainers’ chart had 27 stocks and the losers’ table finished with 22 stocks, representing a positive market breadth index and a strong investor sentiment.
The level of activity improved yesterday, with the trading volume, value and the number of deals growing by 74.92 per cent, 44.44 per cent, and 12.81 per cent, respectively.
This was because traders bought and sold 378.0 million shares worth N5.2 billion in 6,729 deals compared with the 216.1 million shares worth N3.6 billion traded in 5,965 deals a day earlier.
eTranzact sold 44.1 million equities for N370.2 million to lead the activity chart, as UBA traded 42.3 million shares valued at N796.4 million. Access Holdings transacted 33.3 million stocks worth N560.4 million, Fidelity Bank exchanged 31.2 million shares valued at N257.2 million, and Sterling Holdings traded 24.7 million equities worth N84.3 million.
