By Dipo Olowookere
The All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited rebounded by 1.04 per cent on Friday following fresh bargain-hunting activity by investors.
Business Post reports that yesterday’s buying pressure lifted the share prices of 23 companies listed on the exchange, though there was profit-taking in 14 equities.
Thomas Wyatt closed the trading day as the highest price riser after it gained 10.00 per cent to finish at 44 Kobo, as Wema Bank grew by 9.94 per cent to N3.43. Ardova rose by 9.71 per cent to N15.25, PZ Cussons increased by 9.55 per cent to N10.90, and Neimeth improved by 9.45 per cent to N1.39.
On the other side of the table, Academy Press was on top after its share value depleted by 9.35 per cent to N1.26 and was trailed by Japaul, which fell by 6.90 per cent to 27 Kobo. NASCON declined by 6.54 per cent to N10.00, Geregu Power shrank by 5.68 per cent to N122.80, and Cornerstone Insurance withered by 4.00 per cent to 48 Kobo.
The gains recorded by the stock exchange on the last trading session of the week were majorly bolstered by the energy, consumer goods and insurance sectors as they went up by 0.43 per cent, 0.40 per cent, and 0.23 per cent apiece. The banking index depreciated by 0.31 per cent, while the industrial goods counter closed flat.
The renewed interest shown in the market by investors led to an increase in the ASI by 498.01 points to 48,154.65 points from the previous day’s 47,656.64 points, as the market capitalisation gained N272 billion to close at N26.229 trillion compared with Thursday’s N25.957 trillion.
FBN Holdings ended the day as the most active stock after it transacted 48.0 million units, with MTN Nigeria trading 14.5 million units. FCMB exchanged 13.4 million units, UAC Nigeria sold 11.5 million units, and Transcorp traded 8.6 million units.
At the close of trades, investors bought and sold 159.8 million shares valued at N5.1 billion in 3,080 deals against the 172.9 million shares worth N2.8 billion traded in 3,073 deals the prior session, indicating a decline in the trading volume by 7.56 per cent, a surge in the trading value by 77.45 per cent and rise in the number of deals by 0.23 per cent.
