Customs Street Recovers 0.99% as Index, Market Cap Hit Next Thresholds

The local equity market had closed bearish last Friday as a result of profit-taking but bargain-hunting activities yesterday revamped the bourse on the first trading session of the week, with the major performance indicators moving to the next levels.

Consequently, the valuation of Customs Street went up by N986 billion to N62.899 trillion from N61.913 trillion and the All-Share Index (ASI) gained 1,016.05 points to settle at 103,149.35 points compared with the previous session’s 102,133.30 points.

Data obtained by Business Post showed that the insurance counter appreciated by 2.45 per cent, the consumer goods space increased by 1.76 per cent and the industrial goods sector gained 0.01 per cent.

However, the banking industry went down by 0.42 per cent and the energy sector depreciated by 0.35 per cent.

Investor sentiment remained strong during the session as the bourse finished with 39 price gainers and 21 price losers, representing a positive market breadth index.

The trio of Prestige Assurance, Neimeth and MeCure Industries chalked up 10.00 per cent each yesterday to sell for N1.10, N2.09, and N12.65 apiece as Lasaco Assurance improved by 9.96 per cent to N3.09 and Living Trust Mortgage Bank rose by 9.92 per cent to N3.99.

Conversely, PZ Cussons shed 10.00 per cent to quote at N26.10, Vitafoam Nigeria lost 9.62 per cent to finish at N21.60, NGX Group slumped by 9.17 per cent to N27.25, Ikeja Hotel declined by 7.41 per cent to N11.25, and Eterna gave up 5.26 per cent to close at N27.00.

On Monday, investors bought and sold 641.1 million shares worth N15.5 billion in 13,778 deals compared with the 451.7 million shares valued at N17.5 billion traded in 12,551 deals last Friday, indicating a decline in the trading value by 11.43 per cent and a growth in the trading volume and number of deals by 41.93 per cent and 9.78 per cent, respectively.

Universal Insurance topped the activity chart yesterday with 71.5 million stocks valued at N41.7 million, GTCO traded 54.7 million equities worth N3.1 billion, Access Holdings sold 46.6 million shares for N1.1 billion, C&I Leasing exchanged 32.3 million shares worth N117.7 million, and Linkage Assurance transacted 25.2 million stocks valued at N27.7 million.