The Nigerian Exchange (NGX) Limited bounced back into the green zone on Thursday after it closed higher by 0.74 per cent.
This growth was triggered by the gains recorded in three of the six key sectors of the local stock market, after the banking and the energy indices shed 0.35 per cent and 0.03 per cent apiece, with the commodity space closing flat.
Business Post reports that the insurance counter expanded by 2.99 per cent, the consumer goods index appreciated by 1.15 per cent, and the industrial goods counter marginal grew by 0.01 per cent.
At the close of business, the All-Share Index (ASI) was up by 1,088.58 points to 147,950.59 points from 146,862.01 points and the market capitalisation jumped by N694 billion to N94.319 trillion from N93.625 trillion.
During the trading day, 31 stocks ended on the advancers’ chart and 24 stocks finished on the laggards’ log, showing a positive market breadth index and bullish investor sentiment.
Japaul gained 9.88 per cent to sell for N2.78, Berger Paints also appreciated by 9.88 per cent to N40.05, Morison improved by 9.77 per cent to N4.27, PZ Cussons advanced by 9.36 per cent to N45.00, and Legend Internet soared by 8.91 per cent to N5.50.
Conversely, John Holt lost 9.26 per cent to trade at N4.90, Champion Breweries depreciated by 7.86 per cent to N12.90, Eterna dipped by 5.48 per cent to N30.20, VFD Group shed 5.07 per cent to N10.30, and The Initiates contracted by 4.80 per cent to N11.90.
Yesterday, the trading volume, value, and number of deals went down by 29.10 per cent, 0.81 per cent, and 5.23 per cent, respectively.
This was because traders traded 529.7 million equities for N12.3 billion in 18,159 deals compared with the 747.1 million equities worth N12.4 billion transacted in 19,161 deals on Wednesday.
On top of the activity chart was Access Holdings with a turnover of 156.3 million units worth N3.2 billion, FCMB exchanged 74.5 million units valued at N819.5 million, Fidelity Bank sold 42.9 million units for N812.7 million, Japaul transacted 41.2 million units worth N106.0 million, and Zenith Bank traded 20.3 million units valued at N1.3 billion.