The Nigerian Exchange (NGX) Limited further remained in green territory on Thursday after it closed higher by 2.01 per cent due to continued bargain-hunting by investors.
Market participants showed no sign of slowing down their interest in Nigerian stocks as they continued to mop up equities with sound fundamentals across the key sectors of the bourse.
It was observed that the insurance industry gained 3.96 per cent yesterday, the banking sector appreciated by 3.86 per cent, the consumer goods index improved by 1.15 per cent, the commodity space rose by 0.26 per cent, the industrial goods counter soared by 0.25 per cent, and the energy sector chalked up 0.04 per cent.
At the close of transactions, the All-Share Index (ASI) surged by 2,457.13 points to 124,446.80 points from 121,989.67 points and the market capitalisation grew by N1.756 trillion to N78.726 trillion from the N76.970 trillion it ended on Wednesday.
Business Post reports that Customs Street finished with 70 price gainers and 10 price losers, representing a positive market breadth index and very strong investor sentiment.
FTN Cocoa, Caverton, Haldane McCall, UPDC, and UBA appreciated by 10.00 per cent each yesterday to respectively sell for N6.82, N8.36, N4.73, N4.62, and N39.60.
But, Neimeth lost 9.91 per cent to close at N9.00, Legend Internet depreciated by 9.88 per cent to N7.21, Industrial and Medical Gases slipped by 7.36 per cent to N34.00, Cadbury Nigeria shed 6.22 per cent to end at N55.00, and Livestock Feeds declined by 5.67 per cent to N9.15.
During the session, Access Holdings traded 174.2 million shares worth N4.0 billion to lead the activity chart, trailed by AIICO Insurance, which sold 82.0 million equities valued at N165.0 million, Japaul exchanged 74.0 million stocks for N245.2 million, UBA transacted 64.5 million shares worth N2.5 million, and FCMB posted a turnover of 63.3 million equities valued at N585.8 million.
When the market closed for the day, a total of 1.3 billion stocks valued at N27.7 billion were traded in 27,875 deals versus the 888.7 million stocks worth N15.6 billion executed in 24,303 deals at midweek, indicating a surge in the trading volume, value, and number of deals by 44.05 per cent, 77.56 per cent, and 14.70 per cent, respectively.