NGX Index Crosses 100,000 Points Again as Appetite for Shares Intensifies

The growth recorded during the session pushed the benchmark index, the All-Share Index (ASI) above the 100,000-point threshold after it increased by 128.31 points to 100,050.94 points from 99,922.63 points as the market capitalisation grew by N78 billion to N60.650 trillion from N60.572 trillion.

Business Post reports that the consumer goods and industrial goods sectors witnessed profit-taking which made them slide by 0.15 per cent and 0.02 per cent, respectively.

However, the insurance counter improved on Tuesday by 1.56 per cent, the banking index appreciated by 0.19 per cent and the energy space went up by 0.06 per cent.

Unlike the preceding days, investor sentiment was weak yesterday after the bourse finished with 26 price losers and 25 price gainers, representing a negative market breadth index.

MRS Oil appreciated by 10.00 per cent to close at N145.20, Coronation Insurance increased by 10.00 per cent to N1.54, Caverton flew by 9.68 per cent to N2.38, Lasaco Assurance gained 9.41 per cent to trade at N2.79, and Royal Exchange soared by 9.09 per cent to 72 Kobo.

On the flip side, Cutix lost 10.00 per cent to settle at N2.25, Tantalizers declined by 9.73 per cent to N1.67, DAAR Communications slumped by 7.02 per cent to 53 Kobo, Oando deflated by 6.10 per cent to N68.50, and FTN Cocoa waned by 5.88 per cent to N1.76.

At the market yesterday, eTranzact topped the activity chart after it transacted 70.2 million stocks valued at N474.0 million, Transcorp Hotels traded 70.0 million shares for N7.4 billion, Oando exchanged 26.4 million equities for N1.8 billion, Veritas Kapital sold 21.3 million shares valued at N25.7 million, and Sterling Holdings traded 19.4 million stocks worth N94.8 million.

At the close of business, a total of 478.1 million equities valued at N22.5 billion exchanged hands in 9,578 deals compared with the 740.9 million equities worth N16.9 billion traded in 10,430 deals a day earlier, indicating a rise in the trading value by 33.14 per cent and a decline in the trading volume and the number of deals by 35.47 per cent and 8.17 per cent, respectively.