A 0.42 per cent rise was recorded by the Nigerian Exchange (NGX) Limited on Thursday following renewed buying interest in local equities.
This raised the value of all stocks on Customs Street by N389 billion at the close of business to N94.165 trillion from the preceding session’s N93.776 trillion.
In the same vein, the bargain-hunting activity pushed the All-Share Index (ASI) higher by 612.82 points to 148,355.04 points from 147,742.22 points.
Business Post observed that there was an improvement in the level of activity yesterday, with the trading volume, value, and number of deals growing by 11.13 per cent, 35.20 per cent, and 2.82 per cent, respectively.
This was because the market participants bought and sold 432.4 million equities worth N16.9 billion in 23,665 deals compared with the 389.1 million equities valued at N12.5 billion transacted in 23,017 deals on Wednesday.
Consolidated Hallmark was the busiest stock for the trading session, transacting 41.0 million units valued at N196.6 million and was closely followed by Access Holdings, which traded 40.3 million units worth N1.0 billion. GTCO exchanged 27.6 million units for N2.6 billion, Zenith Bank sold 25.1 million units worth N1.7 billion, and Tantalizers transacted 22.2 million units valued at N51.1 million.
Investor sentiment remained strong after the bourse finished with 30 price gainers and 26 price losers, representing a positive market breadth index.
Secure Electronic Technology gained 7.06 per cent to sell for 91 Kobo, Sterling Holdings expanded by 6.49 per cent to N8.20, Livestock Feeds jumped by 5.33 per cent to N7.90, The Initiates rose by 5.18 per cent to N14.00, and May & Baker appreciated by 4.99 per cent to N17.90.
On the flip side, Sunu Assurances slipped by 9.71 per cent to N5.21, Haldane McCall lost 7.53 per cent to finish at N4.05, DAAR Communications depreciated by 6.36 per cent to N1.03, Sovereign Trust Insurance tumbled by 6.05 per cent to N3.26, and Custodian Investment gave up 4.55 per cent to trade at N42.00.
During the trading day, apart from the insurance counter, which fell by 1.35 per cent, the remaining key sectors closed higher, with the industrial goods space up by 1.44 per cent.
Further, the consumer goods counter appreciated by 0.24 per cent, the banking index improved by 0.21 per cent, the energy industry gained 0.18 per cent, and the commodity landscape advanced by 0.09 per cent.