By Dipo Olowookere
The Nigerian Exchange (NGX) Limited appreciated by 0.50 per cent on the back of fresh buying interest from investors, who are enticed to re-enter the market ahead of the Christmas sales.
This raised the All-Share Index (ASI) by 244.98 points at the close of business to 49,233.02 points from 48,988.04 points and expanded the market capitalisation by N132 billion to N26.815 trillion from N26.683 trillion.
Business Post reports that traders looked into the different sectors of the market to cherry-pick stocks that could fetch them sweet returns in the coming days. This resulted in 20 equities finishing on the gainers’ table, with eight shares closing on the losers’ chart.
An analysis of this showed that the market breadth was positive and the investor sentiment very strong.
CAP was the best-performing equity as it gained 9.88 per cent to sell for N17.80, Ardova improved by 9.51 per cent to N16.70, Cornerstone Insurance appreciated by 8.33 per cent to 52 Kobo, Thomas Wyatt grew by 8.33 per cent to 52 Kobo, and Learn Africa increased by 8.12 per cent to N2.13.
The worst-performing stock yesterday was McNichols, losing 10.00 per cent to trade at 54 Kobo, Geregu shed 8.11 per cent to N102.00, Chams fell by 4.35 per cent to 22 Kobo, GTCO lost 1.91 per cent to settle at N20.50, and United Capital declined by 1.46 per cent to N13.50.
On Thursday, investors transacted 222.8 million equities worth N2.1 billion in 2,756 deals, in contrast to the preceding day’s 88.0 million equities worth N1.7 billion in 2,832 deals, representing a decline in the number of deals by 2.68 per cent, an increase in the trading volume and value by 153.2 per cent and 23.53 per cent, respectively.
Sterling Bank was the most traded stock at the exchange yesterday as it sold 153.3 million units, GTCO sold 10.5 million units, Zenith Bank transacted 8.7 million units, FBN Holdings exchanged 5.0 million units, and UBA traded 4.5 million units.
A look at the performance of the sectors showed that the insurance space rose by 1.07 per cent, the energy arm expanded by 0.62 per cent, the banking counter grew by 0.58 per cent, the industrial goods sector went up by 0.13 per cent, and the consumer goods space increased by 0.15 per cent.
