Customs Street Closes 0.75% Higher Amid Profit-taking in Banking Stocks

Data showed that the banking index went down by 0.20 per cent during the session and the commodity sector closed flat.

However, the insurance space grew by 4.32 per cent, the consumer goods counter improved by 2.35 per cent, the industrial goods sector gained 1.29 per cent, and the energy industrial appreciated by 0.27 per cent.

Consequently, the All-Share Index (ASI) surged by 790.59 points to 106,074.26 points from 105,283.67 points and the market capitalisation advanced by N508 billion to N66.667 trillion from N66.159 trillion.

Investor sentiment remained bullish yesterday as Customs Street ended with 43 price gainers and 16 price losers, representing a positive market breath index.

Cadbury Nigeria, Eterna, Ikeja Hotel, and Nestle Nigeria all chalked up 10.00 per cent each to quote at N24.20, N36.30, N11.00, and N1,100.00, respectively, and Academy Press gained 9.96 per cent to trade at N2.87.

However, John Holt lost 10.00 per cent to sell for N6.30, Haldane McCall declined by 9.96 per cent to N4.70, Multiverse depreciated by 9.83 per cent to N7.80, Guinea Insurance depleted by 8.57 per cent to 64 Kobo, and Japaul tumbled by 6.19 per cent to N1.97.

The most active stock for the session was Access Holdings with the sale of 48.5 million units valued at N1.2 billion, Fidelity Bank traded 40.4 million units worth N801.8 million, Zenith Bank exchanged 23.7 million units for N1.1 billion, GTCO sold 17.1 million units worth N1.0 billion, and Chams transacted 13.7 million units valued at N30.1 million.

At the close of trades, a total of 328.3 million equities worth N10.4 billion exchanged hands in 12,142 deals versus the 744.8 million equities valued at N18.3 billion traded in 11,226 deals at midweek, indicating a rise in the number of deals by 8.16 per cent, and a decline in the trading volume and value by 55.92 per cent, and 43.17 per cent, respectively.