RT Briscoe, Others Lift Stock Exchange by 0.22%

By Dipo Olowookere

The gains recorded by RT Briscoe and 40 other equities lifted the Nigerian Exchange (NGX) Limited by 0.22 per cent on Thursday after a day with the bears.

Rebound of the stock exchange was triggered by renewed bargain-hunting activities by the market participants, with RT Briscoe gaining 10.00 per cent to sell for N7.15.

SCOA Nigeria appreciated by 9.91 per cent to N31.60, Deap Capital also jumped by 9.91 per cent to N10.43, Veritas Kapital appreciated by 9.85 per cent to N2.23, and Zichis chalked up 9.80 per cent to trade at N3.81.

Conversely, Haldane McCall depreciated by 9.84 per cent to finish at N3.94, Union Dicon shed 9.79 per cent to close at N8.75, University Press shrank by 8.00 per cent to N5.75, Legend Internet crashed by 7.56 per cent to N5.50, and Austin Laz lost 7.50 per cent to quote at N3.70.

Data indicated that the bourse ended the session with 41 price gainers and 27 price losers, implying a positive market breadth index and strong investor sentiment.

Business Post reports that the industrial goods index was flat yesterday, but this was offset by the others, with the banking space up by 0.68 per cent, the insurance segment rose by 0.64 per cent, the consumer goods counter expanded by 0.46 per cent, and the energy sector grew by 0.10 per cent.

Consequently, the All-Share Index (ASI) went up by 362.93 points to 165,527.31 points from 165,164.38 points and the market capitalisation gained N232 billion to finish at N105.969 trillion versus the previous day’s N105.737 trillion.

The most traded stock for the day was Cutix with 144.6 million units worth N464.9 million, Veritas Kapital traded 56.6 million units for N124.3 million, GTCO sold 26.0 million units valued at N2.6 billion, Tantalizers exchanged 26.0 million units worth N110.0 million, and Japaul transacted 25.9 million units valued at N67.2 million.

When Customs Street closed for business, the activity chart showed the trading was up by 10.94 per cent to 691.4 million shares from 623.2 million shares, the trading value was down by 6.67 per cent to N15.4 billion from N16.5 billion and the number of deals shrank by 8.32 per cent to 38,665 deals from 42,172 deals.