The Nigerian Exchange (NGX) Limited rebounded by 0.12 per cent on Thursday on the back of a renewed bargain-hunting by investors.
The bourse closed higher during the session despite a 0.50 per cent loss suffered by the banking space due to profit-taking.
This was offset by the gains recorded by the others, especially the consumer goods index, which appreciated by 1.40 per cent at the close of business.
Further, the insurance counter improved by 0.62 per cent, and the energy sector gained 0.05 per cent, while the industrial goods and commodity indices closed flat.
When the closing gong was struck by 2:30 pm, the All-Share Index (ASI) went up by 130.56 points to 106,220.94 points from 106,090.38 points and the market capitalisation increased by N82 billion to N66.518 trillion from the N66.436 trillion reported a day earlier.
UPDC was the best-performing equity after chalking up 9.92 per cent to settle at N2.77, International Breweries gained 9.62 per cent to sell for N5.70, Royal Exchange expanded by 9.59 per cent to 80 Kobo, Multiverse rose by 8.81 per cent to N8.65, and NGX Group appreciated by 6.14 per cent to N32.85.
Conversely, University Press lost 10.00 per cent to finish at N4.32, Academy Press shed 9.66 per cent to trade at N2.62, Red Star Express weakened by 9.32 per cent to N5.35, Neimeth slumped by 8.33 per cent to N2.75, and C&I Leasing moderated by 4.75 per cent to N3.81.
Business Post reports that Customs Street ended with 36 price gainers and 20 price losers, representing a positive market breadth index and strong investor sentiment.
A total of 341.7 million shares valued at N16.7 billion exchanged hands in 11,233 deals yesterday versus the 1.5 billion shares worth N10.3 billion transacted a day earlier in 11,748 deals, showing a 64.14 per cent rise in the trading value, a 77.20 per cent decline in the trading volume, and a 4.38 per cent fall in the number of deals.
Tantalizers was the busiest with a turnover of 29.6 million stocks valued at N98.0 million, Access Holdings transacted 29.2 million equities for N693.3 million, Zenith Bank exchanged 28.7 million shares worth N1.4 billion, GTCO traded 26.7 million equities valued at N1.6 billion, and Universal Insurance sold 21.0 million shares worth N12.2 million.