Stock Investors Gain N34bn on Sustained Buying Interests

By Dipo Olowookere

Investors in the nation’s stock market further gained N34 billion on Thursday, causing the total value of equities on the Nigerian Exchange (NGX) Limited to increase to N20.092 trillion from the previous day’s N20.058 trillion.

It was observed that buying interests in shares like Lafarge Africa, Zenith Bank, MTN Nigeria and 16 others expanded the market yesterday by 0.17 per cent.

Unlike the previous session, the activity level was better as investors traded 249.7 million equities worth N1.9 billion in 3,524 deals as against the 156.9 million equities worth N1.3 billion transacted in 3,273 deals on Wednesday, indicating a 59.13 per cent increase in the trading volume, 41.16 per cent rise in the trading value and 7.67 per cent growth in the number of deals.

This time, Sovereign Trust Insurance ended the day as the most traded stock with 35.5 million units valued at N9.7 million, while Zenith Bank trailed with 27.5 million units worth N632.3 million.

FCMB traded 22.7 million shares for N72.2 million, Axa Mansard Insurance exchanged 16.9 million equities worth N15.2 million, while Fidelity Bank sold 14.5 million stocks for N32.3 million.

Business Post reports that apart from the banking index, which went down by 0.50 per cent, every other sector closed bullish, with the consumer goods rising by 0.23 per cent.

The insurance sector appreciated by 0.06 per cent, the energy counter improved by 0.05 per cent, while the industrial goods sector increased by 0.01 per cent.

As for the All-Share Index (ASI), it appreciated by 65.72 points to close at 38,548.24 points in contrast to 38,482.52 points it ended at the midweek trading session.

The highest price gainer for the day was University Press as its value rose by 10.00 per cent to N1.54 and was closely followed by Berger Paints, which gained 9.84 per cent to sell for N6.70.

John Holt appreciated by 9.43 per cent to 58 kobo, ABC Transport improved by 8.82 per cent to 37 kobo, while Africa Prudential increased by 6.90 per cent to N6.20.

On the opposite side, CWG was the worst-performing stock, losing 9.63 per cent to settle at N1.69, while Union Bank lost 6.72 per cent to trade at N5.55.

Sovereign Trust Insurance depreciated by 6.67 per cent to 28 kobo, Courtville decreased by 4.76 per cent to quote at 20 kobo, while Japaul went down by 3.39 per cent to 57 kobo.