Dipo Olowookere
By Dipo Olowookere
A marginal growth of 0.02 per cent was recorded by the Nigerian Exchange (NGX) Limited amid a subdued performance caused by mild profit-taking in the banking, energy and industrial goods sectors.
Bargain-hunting in the consumer goods and insurance counters stretched the upward trend posted yesterday, particularly because of sustained interest in C& Leasing and Northern Nigerian Flour Mills equities.
The market breadth index reflected the mood of the traders during the session as it was negative after the bourse ended with 32 per cent losers and 23 price gainers, indicating a weak investor sentiment.
Deap Capital and Secure Electronic topped the advancers’ chart by chalking up 10.00 each to close at 44 Kobo, and 33 Kobo apiece. C&I Leasing grew by 9.95 per cent to N4.53, Northern Nigerian Flour Mills rose by 9.85 per cent to N21.75, and SCOA Nigeria appreciated by 9.82 per cent to N1.23.
On the flip side, ABC Transport shed 10.00 per cent to settle at 90 Kobo, eTranzact declined by 9.93 per cent to N6.80, Thomas Wyatt fell by 8.95 per cent to N3.46, Guinea Insurance lost 8.33 per cent to trade at 22 Kobo and Ellah Lakes slipped by 7.89 per cent to N3.50.
A look at the sectorial performance showed that the industrial goods index closed flat, the banking and the energy sectors went down by 0.35 per cent and 0.18 per cent, respectively, while the consumer goods and insurance sectors appreciated by 0.31 per cent and 0.17 per cent apiece.
At the close of transactions, the All-Share Index (ASI) increased by 10.82 points to 71,025.16 points from 71,014.34 points, and the market capitalisation moved up by N6 billion to N39.060 trillion from N39.054 trillion.
During the trading day, investors traded 483.9 million stocks valued at N4.4 billion in 6,545 deals compared with the 297.4 million stocks worth N6.2 billion traded in 6,172 deals a day earlier, indicating a decline in the trading value by 29.03 per cent, an increase in the trading volume by 62.71 per cent and an expansion in the number of deals by 6.04 per cent.
Regency Alliance finished the day as the most active stock after trading 104.3 million units worth N36.5 million, Oando transacted 55.3 million units valued at N676.6 million, Universal Insurance exchanged 53.4 million units for N12.3 million, Japaul sold 25.0 million units valued at N46.8 million, and UBA traded 22.5 million units worth N445.5 million.
