After what looked like the bears was plotting a comeback, the Nigerian Exchange (NGX) Limited witnessed a renewed appetite for domestic equities, causing the bourse to close higher by 0.93 per cent on Friday.
Business Post reports that 48 shares ended on the gainers’ chart and 28 shares finished on the losers’ table, representing a positive market breadth index and strong investor sentiment.
Industrial and Medical Gases, SCOA Nigeria, and McNichols gained 10.00 per cent each to quote at N35.20, N9.35, and N5.50 apiece, May and Baker appreciated by 9.92 per cent to N28.80, and FTN Cocoa chalked up 9.90 per cent to sell for N6.66.
On the flip side, Aluminium Extrusion retreated by 9.91 per cent to N19.10, Austin Laz depleted by 9.83 per cent to N4.13, Sovereign Trust Insurance slumped by 9.63 per cent to N3.38, Prestige Assurance dropped 9.57 per cent to sell for N1.70, and UPDC gave up 9.09 per cent to trade at N5.00.
Yesterday, the energy index was down by 0.15 per cent, and the banking sector tumbled by 0.13 per cent, but could not impact the outcome of the market.
However, the industrial goods space improved by 0.44 per cent, the consumer goods counter gained 0.20 per cent, the insurance counter expanded by 0.06 per cent, and the commodity industry soared by 0.02 per cent.
Consequently, the All-Share Index (ASI) went up by 1,491.52 points to 162,298.08 points from 160,806.56 points and the market capitalisation advanced by N954 billion to N103.776 trillion from Thursday’s closing value of N102.822 trillion.
During the trading day, investors transacted 624.1 million units of stocks worth N18.5 billion in 43,816 deals versus the 645.1 million units of stocks valued at N16.5 billion traded in 44,410 deals in the preceding session, implying a decline in the trading volume and the number of deals by 3.26 per cent and 1.34 per cent apiece, and a spike in the trading value by 12.12 per cent.
Topping the activity chart for the session was eTranzact with 73.0 million units valued at N1.1 billion, Chams sold 30.3 million units worth N115.8 million, Access Holdings transacted 27.9 million units for N638.2 million, Linkage Assurance exchanged 25.0 million units valued at N44.4 million, and Sovereign Trust Insurance traded 24.5 million units worth N84.5 million.