University Press, Cadbury, Guinness Rescue Market by 0.41%

October 29, 2021
university press plc ibadan

By Dipo Olowookere

Transactions on the floor of the Nigerian Exchange (NGX) Limited closed bullish on Thursday with a 0.41 per cent growth after closing bearish a day earlier.

Buying interest across the major sectors of the market yesterday triggered the reversal of the loss, with the consumer goods sector emerging as the darling of investors with a 1.47 per cent rise.

The banking index appreciated by 0.67 per cent, the energy space grew by 0.19 per cent, the industrial goods counter improved by 0.10 per cent, while the insurance sector depreciated by 0.21 per cent.

At the close of trading activities, the All-Share Index (ASI) went up by 171.55 points to settle at 41,961.14 points as against the preceding day’s 41,789.59 points, while the market capitalisation by N89 billion to N21.898 trillion from N21.809 trillion.

Business Post reports that investors traded a total of 558.9 million shares worth N4.4 billion in 4,683 deals on Thursday compared with the 284.6 million shares worth N3.2 billion traded in 5,036 deals at the midweek session, implying that the trading volume and value increased by 96.38 per cent and 37.50 per cent respectively, while the number of deals declined by 7.01 per cent.

The interest in FBN Holdings shares continued yesterday, especially with the announcement of the appointment of Mr Nnamdi Okonkwo, the immediate past Managing Director of Fidelity Bank, as the incoming Group MD of FBN Holdings.

The stock was the most traded by investors at the equity market yesterday as a total of 162.6 units worth N1.9 billion were bought and sold, followed by Transcorp, which traded 115.7 million units valued at N123.9 million.

C & I Leasing transacted 63.4 million units worth N291.8 million, UBA exchanged 60.0 million units valued at N509.4 million, while Access Bank traded 29.0 million units valued at N273.3 million.

The market breadth closed positive with 13 price losers and 21 price gainers led by University Press, Cadbury Nigeria and Guinness Nigeria, which appreciated each by 10.00 per cent to settle at N1.98, N8.80 and N33.00 respectively, while AIICO Insurance gained 9.71 per cent to trade at N1.13, with Nigerian Breweries rising by 6.37 per cent to N54.25.

On the reverse side, Axa Mansard Insurance led the chart after it lost 6.02 per cent to sell for N2.34, followed by Japaul, which went down by 4.44 per cent to 43 kobo.

Courtville depreciated by 4.35 per cent to trade at 44 kobo, Mutual Benefits Assurance declined by 3.45 per cent to sell at 28 kobo, while Lasaco Assurance fell by 2.50 per cent to close at N1.17.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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