Nigerian Equities Sustain Positive Vibes, Open Week Higher by 0.91%

By Dipo Olowookere

The positive vibes seen at the Nigerian Exchange (NGX) Limited remained on Monday, January 31, 2022, with a further appreciation of 0.91 per cent.

Data showed that buying pressure on Nigerian equities persistent at the last trading session of the first month of the new year, with interest in RT Briscoe, NGX Group and others.

Business Post reports that the trio of RT Briscoe, Consolidated Hallmark Insurance and NCR Nigeria appreciated yesterday by 10.00 per cent each to close at 22 kobo, 66 kobo and N3.30 respectively, while Presco rose by 9.97 per cent to N96.55, with NGX Group growing by 9.93 per cent to N23.25.

At the close of transactions, a total of 33 stocks were on the gainers’ chart, while 23 equities were on the losers’ log, with University Press on top after it went down by 9.43 per cent to N2.40.

LASACO Assurance depleted by 8.85 per cent to N1.03, Linkage Assurance fell by 7.84 per cent to 47 kobo, Mutual Benefits Assurance decreased by 7.14 per cent to 26 kobo, while Prestige Assurance dropped 6.52 per cent to 43 kobo.

During the session, investors traded 435.7 million stocks worth N3.4 billion in 6,482 deals in contrast to the 313.5 million stocks worth N5.0 billion traded in 5,067 deals last Friday, indicating a 39.03 per cent growth in the trading volume, a 27.93 per cent increase in the number of deals and a 31.65 per cent decline in the trading value.

At the close of trades, Fidelity Bank was the most traded stock with 38.0 million units worth N106.2 million, followed by RT Briscoe with 30.0 million units valued at N6.1 million.

Transcorp sold 27.5 million units worth N31.4 million, FBN Holdings exchanged 26.8 million units valued at N310.5 million, while Linkage Assurance transacted 23.0 million units worth N11.0 million.

It was observed that the consumer goods and insurance counters depreciated yesterday by 0.23 per cent and 0.20 per cent apiece, while the industrial goods, banking and energy sectors appreciated by 0.47 per cent, 0.43 per cent and 0.32 per cent respectively.

When the market closed for the day at 2:30 pm, the All-Share Index (ASI) increased by 419.62 points to 46,624.67 points from 46,205.05 points, while the market capitalisation skyrocketed by N226 billion to N25.124 trillion from N24.898 trillion.