By Dipo Olowookere
The Nigerian Exchange (NGX) Limited appreciated by 1.89 per cent in the last trading session of 2022 as investors mopped up shares with good fundamentals.
This left the market breadth positive at the close of transactions as there were 27 price gainers and 17 price losers, indicating a strong investor sentiment.
Caverton and Presco finished the day as the best-performing equities as they rose by 10.00 per cent to settle at 99 Kobo and N137.50, respectively. Airtel Africa grew by 9.88 per cent to N1,635.00, CWG increased its value by 9.78 per cent to N1.01, and Morison Industries appreciated by 9.60 per cent to N2.17.
On the flip side, Royal Exchange ended as the worst-performing stock after it dropped 9.40 per cent to trade at N1.06, Fidson lost 8.16 per cent to settle at N9.00, UAC Nigeria went down by 7.66 per cent to N10.25, Mutual Benefits depreciated by 6.90 per cent to 27 Kobo, and Ecobank shed 6.19 per cent to quote at N10.60.
During the session, investors transacted 890.7 million shares worth N7.4 billion in 3,566 deals compared with the 490.5 million shares worth N7.8 billion in 4,480 deals, indicating a decline in the number of deals by 20.40 per cent, a fall in the number of deals by 5.12 per cent, and an improvement in the trading volume by 81.59 per cent.
Sovereign Trust Insurance was the busiest stock as it traded 523.9 million units and was trailed by Access Holdings, which sold 176.5 million units. Sterling Bank exchanged 39.8 million equities, Presco traded 12.4 million shares, and Mutual Benefits transacted 11.8 million stocks.
Business Post reports that yesterday, the banking sector witnessed heavy profit-taking as it shed 2.86 per cent, as the energy counter depreciated by 0.41 per cent.
However, the insurance sector appreciated by 0.40 per cent, as the consumer goods space increased by 0.09 per cent, while the industrial goods arm closed flat.
At the close of business, the All-Share Index (ASI) went up by 951.06 points to 51,251.06 points from 50,300.00 points, and the market capitalisation jumped by N518 billion to N27.915 trillion from N27.397 trillion.