By Dipo Olowookere
The opening session of the week at the Nigerian Exchange (NGX) Limited ended on a positive note on Monday, with a 2.22 per cent, stretching the year-to-date return to 39.99 per cent.
The appreciation was recorded despite selling pressure in most of the key sectors of the bourse, with the industrial goods counter providing succour after it closed higher by 6.65 per cent.
The banking index fell by 1.05 per cent yesterday, the insurance counter depreciated by 0.92 per cent, the consumer goods sector declined by 0.25 per cent, and the energy space went down by 0.12 per cent.
However, the All-Share Index (ASI) surged at the close of business by 2,272.79 points to 104,674.67 points from 102,401.88 points and the market capitalisation gained N1.244 trillion to settle at N57.282 trillion compared with the preceding session’s N56.038 trillion.
Business Post reports that investor sentiment was weak yesterday after a negative market breadth index due to the NGX closing with 38 price losers and 24 price gainers.
DAAR Communications and Ikeja Hotel declined by 10.00 per cent each to quote at 81 Kobo and N6.75 apiece, Cadbury Nigeria retreated by 9.80 per cent to N20.70, NPF Microfinance Bank lost 8.88 per cent to trade at N1.95, and Ellah Lakes depleted by 8.48 per cent to N3.02.
But Oando topped the gainers’ group after it chalked up 9.96 per cent to settle at N13.80, Dangote Cement grew by 9.93 per cent to N763.00, Tripple Gee rose by 9.89 per cent to N3.11, Berger Paints expanded by 9.81 per cent to N17.35, and Royal Exchange advanced by 8.97 per cent to 85 Kobo.
The stock exchange was very busy on Monday, with the trading volume, value, and the number of deals increasing by 32.83 per cent, 191/01 per cent, and 40.58 per cent, respectively.
This was because a total of 689.9 million equities valued at N25.9 billion were traded in the session in 15,887 deals compared with the 519.4 million equities worth N8.9 billion traded in 11,301 deals in the preceding session.
Japaul finished the day as the most active stock after exchanging 83.9 million units for N269.6 million, Transcorp traded 42.8 million units worth N690.5 million, Zenith Bank transacted 34.5 million units valued at N1.5 billion, Access Holdings sold 34.1 million units valued at N967.7 million, and GTCO traded 33.4 million units worth N1.5 billion.
