Dipo Olowookere
By Dipo Olowookere
Transactions on the floor of the Nigerian Exchange (NGX) Limited resumed on a positive note on Tuesday with a 0.07 per cent growth after the Easter holidays.
Buying interest in consumer goods equities mostly contributed to the marginal growth posted by the stock exchange yesterday.
At the close of business, the All-Share Index (ASI) went up by 35.58 points to 47,545.86 points from 47,510.28 points, while the market capitalisation rose by N20 billion to N25.633 trillion from N25.613 trillion.
But the activity chart closed mixed on Tuesday with 365.5 million units of stocks worth N7.1 billion traded in 5,790 deals compared with the 385.2 million units of stocks worth N4.0 billion transacted last Thursday in 6,212, indicating a decline in the trading volume by 5.12 per cent. Also, the number of deals went down by 6.79 per cent, while the value of trades increased by 76.69 per cent.
Fidelity Bank was the most traded stock yesterday as it sold 33.8 million units worth N132.1 million, Access Holdings exchanged 24.0 million units valued at N247.1 million, MTN Nigeria sold 22.2 million units for N4.7 billion, Omatek traded 17.9 million units valued at N3.6 million, while RT Briscoe transacted 15.1 million units valued at N8.9 million.
Business Post reports that only the consumer goods sector appreciated during the session by 0.26 per cent, while the banking, insurance, energy and industrial goods counters depreciated by 0.31 per cent, 0.09 per cent, 0.02 per cent and 0.01 per cent respectively.
Amid the gains recorded on Tuesday, investor sentiment was weak as the market breadth ended bearish with 31 depreciating stocks and 21 appreciating stocks.
Meyer was the best-performing stock as it gained 10.00 per cent to trade at N1.76, Guinness Nigeria rose by 6.86 per cent to N74.80, NPF Microfinance Bank increased by 6.80 per cent to N2.20, Cadbury Nigeria expanded by 5.00 per cent to N8.40, while Unilever Nigeria grew by 4.51 per cent to N12.75.
On the flip side, Academy Press ended the trading day as the worst-performing stock with a decline of 9.72 per cent to N1.30. John Holt went down by 9.30 per cent to 78 kobo, Japaul lost 9.09 per cent to 30 kobo, Neimeth went down by 8.23 per cent to N1.45, while Pharma-Deko decreased by 7.51 per cent to N1.60.
