The Nigerian Exchange (NGX) Limited made a rebound of 0.09 per cent on Monday after recording its first loss in 27 consecutive trading days last Friday due to mild profit-taking in a few industrial goods stocks.
At the resumption of trading yesterday, the industrial goods space remained under pressure as it shed 1.47 per cent, while the energy sector was down by 0.56 per cent, with the commodity index remaining flat like in the preceding session.
However, the insurance sector continued its positive performance after it closed higher by 9.74 per cent, the consumer goods industry appreciated by 0.98 per cent, and the banking counter grew by 0.44 per cent.
Consequently, the All-Share Index (ASI) gained 125.86 points to finish at 145,880.77 points compared with the previous session’s 145,754.91 points and the market capitalisation increased by N79 billion to N92.294 trillion from N92.215 trillion.
Business Post reports that the market breadth index was positive during the session after the bourse finished with 41 price gainers and 36 price losers, representing a strong investor sentiment.
The Initiates, Sunu Assurances, UPDC, Stanbic IBTC, and Veritas Kapital all rose by 10.00 per cent each to close at N13.20, N5.50, N8.69, N111.10, and N2.31, respectively.
However, the duo of ABC Transport and Abbey Mortgage Bank crashed by 10.00 per cent each to sell for N4.50 and N5.67 apiece, UAC Nigeria declined by 9.99 per cent to N75.25, Haldane McCall slipped by 9.92 per cent to N4.36, and VFD Group was down by 9.70 per cent to N12.10.
The number of deals executed at Customs Street on the first trading day of the week increased by 15.41 per cent to 40,435 deals from the 35,036 deals completed last Friday.
But, the volume of trades went down by 4.55 per cent to 2.1 billion units from 2.2 billion units, and the value of transactions depreciated by 40.12 per cent to N19.4 billion to N32.4 billion.
The busiest stock was Linkage Assurance with a turnover of 703.6 million units worth N1.6 billion, Universal Insurance traded 230.5 million units for N278.9 million, AIICO Insurance sold 154.7 million units for N595.3 million, Sterling Holdings exchanged 120.2 million units worth N987.9 million, and Veritas Kapital transacted 74.6 million units valued at N164.6 million.