By Dipo Olowookere
The first trading session in the Christmas week at the Nigerian Exchange (NGX) Limited was bullish as the market closed 0.20 per cent higher on Monday.
Interest in shares in the consumer goods and banking counters contributed to the gains recorded by the stock market yesterday.
It was the fourth straight trading session Nigerian stocks were closing positive at the bourse, as investors are buying equities expected to improve in value ahead of the Yuletide sales.
From analysis, the consumer goods sector appreciated by 1.00 per cent, the banking index grew by 0.12 per cent, the insurance space fell by 0.05 per cent, the energy counter depreciated by 0.01 per cent, while the industrial goods segment closed flat.
At the close of business, the All-Share Index (ASI) increased by 98.67 points to 49,414.96 points from 49,316.29 points, while the market capitalisation rose by N54 billion to N26.915 trillion from N26.861 trillion.
Thomas Wyatt closed the trading day as the best-performing stock as it rose by 8.77 per cent to 62 Kobo, International Breweries improved by 5.81 per cent to N4.55, Pharma-Deko grew by 5.00 per cent to N2.10, Living Trust Mortgage Bank rose by 4.90 per cent to N1.50, and Caverton increased by 3.45 per cent to 90 Kobo.
On the flip side, PZ Cussons finished the day as the worst-performing stock after it dropped 7.26 per cent to trade at N11.50, Chams fell by 4.35 per cent to 22 Kobo, UPDC REIT declined by 3.33 per cent to N2.90, FTN Cocoa went down by 3.23 per cent to 30 Kobo, and Africa Prudential tumbled by 2.73 per cent to N5.35.
Business Post reports that the NGX closed Monday’s trading session with 14 price gainers and 10 price losers, indicating a positive market breadth and a strong investor sentiment.
However, the level of activity waned yesterday as investors traded 76.7 million stocks worth N1.3 billion in 3,260 deals, in contrast to the 103.7 million stocks worth N2.0 billion transacted in 3,280 deals in the preceding session, representing a decline in the trading volume, value and number of deals by 26.04 per cent, 35.00 per cent, and 0.61 per cent, respectively.
GTCO was the most active stock on Monday as it traded 16.6 million units. UBA transacted 7.6 million shares, Chams sold 4.2 million equities, Consolidated Hallmark Insurance traded 4.0 million stocks, and Zenith Bank exchanged 3.8 million stocks.
