Dipo Olowookere
By Dipo Olowookere
It was another positive outcome for the Nigerian Exchange (NGX) Limited on Thursday as it further appreciated by 0.27 per cent on the back of bargain hunting in consumer goods stocks.
The consumer goods index closed higher by 1.98 per cent during the session, the insurance sector rose by 0.42 per cent, and the energy counter improved by 0.15 per cent to offset the 0.45 per cent loss and the 0.05 per cent decline reported by the banking and industrial goods, respectively.
Consequently, the All-Share Index (ASI) moved up by 138.26 points to 52,235.88 points from 52,097.62 points, as the market capitalisation grew by N76 billion to settle at N28.443 trillion compared with the midweek session’s N28.367 trillion.
The market breadth was positive yesterday, with 26 stocks closing on the advancers’ chart and 18 equities finishing on the decliners’ table, implying a strong investor sentiment.
Honeywell Flour finished the day on top of the gainers’ log after it went up by 10.00 per cent to N3.08, Cadbury Nigeria improved by 9.82 per cent to N12.30, Neimeth grew by 9.52 per cent to N1.38, Fidson appreciated by 9.29 per cent to N9.29, and CWG gained 9.09 per cent to sell for 96 Kobo.
On the flip side, Nigerian Breweries was on top of the losers’ after it shed 10.00 per cent to trade at N32.85, International Energy Insurance depreciated by 9.49 per cent to N1.24, Red Star Express fell by 8.93 per cent to N2.55, Berger Paints declined by 7.19 per cent to N7.10, and Lasaco Assurance shrank by 5.04 per cent to N1.13.
At the market on Thursday, a total of 2.3 billion shares valued at N17.6 billion were traded in 6,958 deals compared with the 6.5 billion shares worth N19.5 billion traded in 5,109 deals on Wednesday, representing an increase in the number of deals by 36.19 per cent, and a decline in the trading volume and value by 64.62 per cent and 9.74 per cent apiece.
Access Holdings was the most traded equity at the stock exchange on Thursday as it transacted 1.2 billion units worth N12.5 billion, Transcorp traded 873.6 million units valued at N2.8 billion, Japaul exchanged 45.4 million units worth N17.3 million, UBA sold 26.2 million units valued at N205.9 million, and Fidelity Bank traded 25.0 million units worth N131.6 million.
