Dipo Olowookere
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited appreciated by 1.21 per cent on Thursday, the fourth straight trading session it closed higher this week.
The market was quite busy during the session as investors picked some shares ahead of the Christmas holiday next week.
Financial and industrial goods equities were traders’ toast yesterday, with keen interest in tier-1 banks, which investors have confidence in to yield more returns in the coming weeks.
Business Post reports that the banking index rose by 1.41 per cent on Thursday, the insurance counter gained 0.61 per cent, and the industrial goods space improved by 0.01 per cent. However, the consumer goods counter fell by 0.15 per cent, and the energy sector dropped 0.05 per cent.
At the close of trading activities, the All-Share Index (ASI) increased by 891.31 points to historic 74,289.02 points from 73,397.71 points, and the market capitalisation soared by N487 billion to finish at N40.652 trillion compared with the previous day’s N40.165 trillion.
A total of 760.9 million stocks valued at N13.0 billion exchanged hands in 7,990 deals yesterday versus the 554.6 million stocks worth N12.8 billion transacted in 7,910 deals in the midweek session, implying a jump in the trading volume, value, and the number of deals by 37.20 per cent, 1.56 per cent, and 1.01 per cent apiece.
The busiest stock for the trading day was Abbey Mortgage Bank, which transacted 224.1 million units valued at N365.3 million, followed by Access Holdings, which transacted 65.8 million units worth N1.5 billion. Transcorp exchanged 65.3 million units for N552.6 million, UBA traded 46.0 million units valued at N1.2 billion, and GTCO sold 43.6 million units for N1.7 billion.
The best-performing shares for the session were Industrial & Medical Gases and Transcorp because they chalked up 10.00 per cent each to trade at N9.35 and N8.47. Okomu Oil rose by 9.96 per cent to N263.90, Multiverse grew by 9.96 per cent to N12.70 and Infinity Trust Mortgage Bank gained 9.87 per cent to end at N4.12.
Conversely, John Holt ended as the worst-performing stock after it dropped 10.00 per cent to settle at N2.34, Ellah Lakes fell by 9.94 per cent to N2.90, Tripple Gee declined by 9.66 per cent to N2.15, Regency Alliance slumped by 8.11 per cent to 34 Kobo, and UAC Nigeria depreciated by 5.96 per cent to N15.00.
At the close of business, the NGX recorded 50 price gainers and 19 price losers, indicating a positive market breadth and a strong investor sentiment.
