Dipo Olowookere
By Dipo Olowookere
A 0.12 per cent appreciation was recorded by the Nigerian Exchange (NGX) Limited on Friday, reversing the previous day’s losses triggered by profit-taking in the banking sector.
Business Post reports that it was the same banking space that influenced the growth posted yesterday, rising by 1.60 per cent, supported by the consumer goods indices, which appreciated by 0.15 per cent.
However, there were pockets of profit-taking during the last trading session of the week, with the insurance sector shedding 0.78 per cent, the industrial goods sector losing 0.65 per cent, and the energy counter declining by 0.57 per cent.
This left the bourse with 35 price losers and 22 price gainers, indicating a negative market breadth index and a weak investor sentiment.
Multiverse topped the gainers’ table after it grew by 9.95 per cent to N9.39, Infinity Trust Mortgage Bank appreciated by 9.94 per cent to N1.77, PZ Cussons rose by 9.87 per cent to N25.60, Ecobank improved by 9.79 per cent to N20.75, and Champion Breweries chalked up 9.09 per cent to trade at N3.60.
On the flip side, FBN Holdings topped the losers’ chart after depleting by 10.00 per cent to close at N23.85, MRS Oil declined by 9.96 per cent to N99.00, Learn Africa shed 9.82 per cent to N3.03, Neimeth lost 9.52 per cent to N1.90, and NPF Microfinance Bank dropped 9.39 per cent to N1.93.
During the day, investors transacted 503.8 million shares valued at N7.2 billion in 5,747 deals compared with the 436.6 million shares worth N7.6 billion traded in 7,096 deals on Thursday, implying an increase in the trading volume by 15.39 per cent, a decline in the trading value and the number of deals by 5.26 per cent and 19.01 per cent, respectively.
Regency Alliance was the busiest stock yesterday when it traded 70.2 million units valued at N25.9 million, Mutual Benefits transacted 67.3 million units worth N33.7 million, UAC Nigeria sold 50.3 million units for N772.7 million, Veritas Kapital traded 17.4 million units valued at N17.4 million, and Nigerian Breweries exchanged 28.6 million units worth N1.1 billion.
When the market closed for the session, the All-Share Index (ASI) increased by 83.82 points to 71,541.74 points from 71,457.92 points, and the market capitalisation gained N46 billion to close at N39.149 trillion compared with the previous day’s N39.103 trillion.
