Dipo Olowookere
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited was not two-time fortunate as it succumbed to the authority of the bears on Thursday, a day after having a lucky escape from the claws of the devourers.
The stock market depreciated yesterday by a marginal 0.01 per cent on the back of a renewed profit-taking as investors awaited the release of the gross domestic product (DGP) figures.
The National Bureau of Statistics (NBS) eventually released the numbers, though hours after the market had closed for the day’s business. The stats office said Nigeria recorded an annual growth of 3.40 per cent, while the economic growth rate in the last quarter of 2021 was 3.98 per cent.
When the bourse closed for the session, the market capitalisation was down by N2 billion to N25.386 trillion from N25.384 trillion, while the All-Share Index (ASI) was down by 6.61 per cent to 47,102.64 points from 47,109.25 points.
Despite the loss, the performance of the sectors was positive as the insurance index rose by 0.54 per cent, the banking space grew by 0.36 per cent, the consumer goods counter appreciated by 0.22 per cent, the industrial goods sector improved by 0.11 per cent, while the energy index closed flat.
Business Post reports that investor sentiment was good yesterday as the market breadth closed positive with 17 depreciating equities and 32 appreciating equities led by RT Briscoe and Northern Nigerian Flour Mills, which gained 10.00 per cent each to settle at 55 kobo and N9.90 respectively.
Honeywell Flour appreciated by 9.91 per cent to trade at N3.66, SCOA Nigeria increased its value by 9.74 per cent to sell for N2.14, while Academy Press gained 9.40 per cent to quote at N1.63.
The heaviest price loser of the trading session was CWG as its value went down by 9.76 per cent to close at N1.11, Champion Breweries fell by 8.89 per cent to N2.05, Lasaco Assurance depreciated by 7.08 per cent to N1.05, Seplat depleted by 5.88 per cent to N800.00, while Courteville declined by 5.56 per cent to 51 kobo.
The most traded stock on Thursday was GTCO with a turnover of 130.1 million units valued at N3.4 billion, United Capital transacted 30.3 million units worth N333.4 million, Fidelity Bank exchanged 26.5 million units worth N79.2 million, Access Bank traded 16.3 million units valued at N169.1 million, while FCMB sold 14.3 million units worth N43.0 million.
At the close of trades, investors exchanged a total of 357.8 million shares worth N6.5 billion in 4,251 deals compared with the 318.3 million shares worth N8.3 billion transacted in 4,965 deals at the midweek session, indicating an increase in the trading volume by 12.41 per cent, a decrease in the trading value by 21.58 per cent and a decline in the number of deals by 14.38 per cent.
