By Dipo Olowookere
The upward movement by the Nigerian Exchange (NGX) Limited continued on Friday after it further gained 2.11 per cent to push the All-Share Index (ASI) closer to the 80,000 psychological mark.
Business Post reports that buying pressure was sustained on the last trading session of the week, with the insurance counter growing by 4.39 per cent.
Further, the banking space rose by 3.62 per cent, the consumer goods index increased by 1.02 per cent, and the industrial goods counter jumped by 1.10 per cent, while the energy sector closed flat.
At the close of business, the ASI expanded by 1,644.12 points to 79,664.66 points from 78,020.54 points and the market capitalisation gained N900 billion to N43.594 trillion from N42.694 trillion.
It was observed that a total of 60 stocks ended on the advancers’ log yesterday, while 20 stocks finished on the laggards’ table, representing a positive market breadth index and a strong investor sentiment.
UPDC recorded the biggest price appreciation as it chalked up 10.00 per cent to settle at N1.65, NAHCO also improved by 10.00 per cent to trade at N28.60, Transcorp rose by 9.99 per cent to N12.66, Wema Bank soared by 9.99 per cent to N7.38, and Transcorp Hotels jumped by 9.92 per cent to N84.85.
The heaviest loss was recorded by Multiverse as it dropped 9.99 per cent to close at N18.20, SCOA Nigeria shed 9.94 per cent to N1.63, Abbey Mortgage Bank deflated by 9.86 per cent to N2.65, UPDC REIT declined by 9.33 per cent to N6.80, and Coronation Insurance sank by 8.97 per cent to 71 Kobo.
During the session, investors traded 892.7 million shares worth N14.3 billion in 13,019 deals compared with the 984.2 million shares worth N11.2 billion traded on Thursday in 12,976 deals, showing a decline in the trading volume by 9.30 per cent, a decline in the trading value and the number of deals by 27.68 per cent and 0.33 per cent, respectively.
Fidelity Bank ended the day as the most active stock after it sold 92.7 million units for N1.3 billion, Transcorp traded 75.4 million units worth N955.0 million, Sterling Holdings transacted 71.6 million units valued at N399.6 million, FCMB exchanged 56.9 million units worth N541.8 million, and UBA traded 46.0 million units valued at N1.3 billion.