By Dipo Olowookere
The Nigerian Exchange (NGX) Limited further appreciated by 0.25 per cent on Friday, stretching the year-to-date return to 39.95 per cent in just under three months, though the week-to-date gain went down by 0.42 per cent.
The All-Share Index (ASI) increased by 259.90 points to settle at 104,647.37 points today compared with yesterday’s 104,387.47 points, as the market capitalisation grew by N147 billion to close at N59.169 trillion versus Thursday’s N59.022 trillion.
During the session, 505.2 million shares worth N14.2 billion exchanged hands in 9,574 deals compared with the 336.8 million shares worth N9.3 billion traded in 8,790 deals a day earlier, indicating a rise in the trading volume, value, and the number of deals by 50.0 per cent, 52.69 per cent, 8.92 per cent, respectively.
Business Post observed that investors showed significant interest in banking equities on Friday, causing the sector to dominate the activity chart, with Access Holdings trading 75.8 million units valued at N1.8 billion.
Further, FBN Holdings transacted 75.1 million units for N3.0 billion, GTCO exchanged 64.1 million units valued at N3.1 billion, Zenith Bank traded 47.7 million units worth N1.9 billion, and Fidelity Bank sold 37.5 million units worth N377.1 million.
Investor sentiment was strong today after the bourse ended with 34 appreciating shares and 14 depreciating shares, implying a positive market breadth index.
Secure Electronic Technology outperformed others during the session after it gained 10.00 per cent to sell for 55 Kobo, Juli improved by 9.93 per cent to N7.86, DAAR Communications expanded by 9.84 per cent to 67 Kobo, The Initiates appreciated by 9.72 per cent to N2.37, and NEM Insurance rose by 9.66 per cent to N9.65.
On the flip side, Ikeja Hotels and PZ Cussons declined by 10.00 per cent each to trade at N6.48, and N36.00 apiece, Abbey Mortgage Bank lost 9.84 per cent to quote at N2.20, Sovereign Trust Insurance depreciated by 6.38 per cent to 44 Kobo, and International Energy Insurance crashed by 5.66 per cent to N1.50.
The insurance sector went up today by 2.25 per cent, the banking space rose by 1.39 per cent, the energy counter appreciated by 0.49 per cent, and the industrial goods index expanded by 0.11 per cent, while the consumer goods sector depreciated by 0.17 per cent.
