The Nigerian Exchange (NGX) Limited posted a marginal growth of 0.01 per cent on Friday as market participants slightly placed their foot on the brake pedal.
Business Post observed a pocket of profit-taking at the bourse yesterday, though this did not affect the general outcome of the market because of the gains recorded by most of the sectors.
Data revealed that during the trading session, the industrial goods counter lost 0.93 per cent, and the banking sector depreciated by 0.13 per cent.
However, the insurance index improved by 1.33 per cent, the energy industry climbed higher by 0.80 per cent, the commodity space gained 0.51 per cent, and the consumer goods sector advanced by 0.24 per cent.
Consequently, the All-Share Index (ASI) slightly rose by 12.46 points to 120,989.66 points from 120,977.20 points, while the market capitalisation declined by N244 billion due to the delisting of the shares of Notore Chemical Industries, closing at N76.339 trillion compared with Thursday’s N76.583 trillion.
A total of 40 stocks closed in green yesterday and 27 stocks ended in red, indicating a positive market breadth index and strong investor sentiment.
Champion Breweries and John Holt chalked up 10.00 per cent each to sell for N13.20 and N7.70 apiece, Red Star Express appreciated by 9.99 per cent to N8.37, Academy Press improved by 9.98 per cent to N6.17, and UPDC also gained 9.98 per cent to trade at N4.74.
On the flip side, Ellah Lakes, and PZ Cussons depreciated by 10.00 per cent each to N8.10 and N32.40 apiece, Japaul declined by 9.70 per cent to N2.70, Royal Exchange shed 9.49 per cent to close at N1.24, and McNichols lost 8.85 per cent to finish at N2.78.
On Customs Street, investors traded 923.9 million equities worth N11.0 billion in 25,680 deals versus the 933.4 million equities valued at N29.3 billion exchanged in 24,207 deals in the preceding day, indicating a rise in the number of deals by 6.09 per cent, and a decline in the trading volume and value by 1.02 per cent and 62.46 per cent, respectively.
The most active stock on Friday was Japaul with 147.1 million units valued at N421.6 million, Coronation Insurance sold 44.5 million units for N94.6 million, Access Holdings exchanged 43.6 million units worth N984.3 million, Consolidated Hallmark transacted 42.8 million units valued at N122.4 million, and Chams traded 42.0 million units for N107.9 million.