The Nigerian Exchange (NGX) Limited closed higher by 0.94 per cent on Friday as a result of continued interest in the bourse.
Business Post reports that 48 stocks ended on the gainers’ chart during the session and 22 price losers, implying a positive market breadth index and strong investor sentiment.
Champion Breweries rose by 10.00 per cent to sell at N12.32, Ikeja Hotel appreciated by 10.00 per cent to close at N23.10, Unilever Nigeria grew by 10.00 per cent to N68.20, Nigerian Enamelware soared by 9.98 per cent to N27.00, and The Initiates surged by 9.95 per cent to N16.13.
On the flip side, Tripple Gee declined by 10.00 per cent to N3.51, Tantalizers dropped 10.00 per cent to N2.46, Sunu Assurances slipped by 6.64 per cent to N4.64, Ecobank crashed by 5.88 per cent to N32.00, and Neimeth depreciated by 4.55 per cent to N6.50.
Data showed that the consumer goods industry improved by 1.63 per cent during the session, the insurance sector increased by 1.32 per cent, the commodity index added 1.20 per cent, the industrial goods index jumped by 0.60 per cent, the banking space gained 0.59 per cent, and the energy counter chalked up 0.50 per cent.
Consequently, the All-Share Index (ASI) went up by 1,252.94 points to close at 134,452.93 points compared with the 133,199.99 points it finished on Thursday and the market capitalisation advanced by N792 billion to N85.055 trillion from N84.263 trillion.
Though activity was robust, it was short of the preceding trading session as investors pulled back, cherry-picking equities of interest to them.
The activity chart revealed that a total of 681.2 million shares valued at N17.0 billion exchanged hands in 26,931 deals yesterday compared with the 818.4 million shares worth N22.7 billion transacted in 22,955 deals a day earlier, showing an increase in the number of deals by 17.32 per cent, and a decrease in the trading volume and value by 16.76 per cent and 25.11 per cent, respectively.
Access Holdings led the activity table with 42.4 million equities sold for N1.2 billion, Universal Insurance transacted 40.7 million shares worth N29.7 million, Tantalizers exchanged 32.2 million stocks valued at N83.1 million, GTCO traded 28.7 million equities for N2.7 billion, and Ellah Lakes transacted 26.3 million shares worth N260.5 million.