By Dipo Olowookere
The Nigerian Exchange (NGX) Limited ended the final trading session of 2023 on a positive note, chalking up 0.36 per cent on Friday on the back of sustained buying pressure.
The Nigerian stock market closed for the year at 12:30 pm today, with popular actor, Richard Mofe Damijo (RMD), beating the closing gong.
Almost all the key sectors of the market ended bullish during the session except the consumer goods sector, which declined by 1.42 per cent.
The insurance counter appreciated today by 2.85 per cent, the banking index grew by 1.12 per cent, the energy sector improved by 0.11 per cent, and the industrial goods space marginally closed higher by 0.01 per cent.
At the close of transactions, the All-Share Index (ASI) jumped by 271.19 points to 74,773.77 points from 74,502.58 points and the market capitalisation grew by N149 billion to settle at N40.918 trillion compared with Thursday’s N40.769 trillion.
The activity chart was mixed today as investors traded 368.6 million shares worth N12.8 billion in 6,732 deals compared with the 384.6 million shares worth N5.7 billion traded yesterday in 8,336 deals, representing an increase in the trading value of 124.56 per cent, a decline in the trading volume and the number of deals by 4.16 per cent and 19.24 per cent, respectively.
Zenith Bank ended the day as the most active stock with 28.9 million units sold for N1.1 billion, Consolidated Hallmark traded 26.6 million units worth N35.7 million, Jaiz Bank transacted 24.6 million units valued at N47.1 million, Geregu Power exchanged 20.1 million units for N7.2 billion, and Access Holdings sold 17.6 million units for N407.1 million.
A total of 55 equities appreciated in price on Friday, while 15 equities depreciated in value, indicating a positive market breadth index and a strong investor sentiment, fuelled that the stock exchange would perform well next year, having posted a year-to-date gain of 45.90 per cent in 2023.
Learn Africa and Transcorp Hotels topped the gainers’ log today with price appreciation of 10.00 per cent each to quote at N3.19 and N70.18, respectively. Multiverse gained 9.95 per cent to close at N18.57, Abbey Mortgage Bank appreciated by 9.90 per cent to N2.22, and Industrial and Medical Gases leapt by 9.80 per cent to N13.45.
Conversely, Sunu Assurances led the losers’ group after its price fell by 5.17 per cent to N1.10, FTN Cocoa depreciated by 4.52 per cent to N1.48, NAHCO slipped by 4.451 per cent to N25.40, Tantalizers weakened by 4.08 per cent to 47 Kobo, and Sterling Holdings shed 3.16 per cent to N4.29.
