A 0.16 per cent rise on Thursday pushed the value of the Nigerian Exchange (NGX) Limited in the N90 trillion threshold, backed by renewed bargain-hunting activities by traders.
Business Post observed that the financial services landscape is, however, still under selling pressure, with profit-taking pulling the insurance counter down by 1.07 per cent as the banking index lost 0.23 per cent.
But, the consumer goods sector improved by 0.75 per cent, the energy industry appreciated by 0.28 per cent, the commodity space expanded by 0.16 per cent, and the industrial goods counter gained 0.01 per cent.
As a result, the All-Share Index (ASI) increased by 226.84 points to 142,263.07 points from 142,036.23 points and the market capitalisation grew by N144 billion to N90.009 trillion from the previous session’s N89.865 trillion.
A total of 30 stocks appreciated during the trading day and 20 stocks depreciated, indicating a positive market breadth index and strong investor sentiment.
Guinness Nigeria chalked up 10.00 per cent to quote at N176.00, Eunisell surged by 9.89 per cent to N30.55, Regency Alliance appreciated by 9.82 per cent to N1.79, Thomas Wyatt rose by 9.80 per cent to N2.69, and McNichols jumped by 9.58 per cent to N3.89.
On the flip side, Consolidated Hallmark lost 7.59 per cent to finish at N4.02, The Initiates retreated by 7.48 per cent to N12.00, Sovereign Trust Insurance tumbled by 6.21 per cent to N2.87, Omatek crashed by 5.17 per cent to N1.10, and Coronation Insurance slumped by 4.19 per cent to N3.20.
The market was relatively quiet yesterday as participants only traded 325.1 million equities worth N8.4 billion in 22,779 deals compared with the 1.0 billion equities valued at N24.7 billion executed in 23,281 deals at midweek, showing a decline in the trading volume, value, and number of deals by 67.49 per cent, 65.99 per cent, and 2.16 per cent, respectively.
Access Holdings, which was the most traded stock, recorded a turnover of 37.2 million units valued at N1.0 billion, Zenith Bank transacted 24.5 million units for N1.6 billion, Fidelity Bank exchanged 20.5 million units worth N426.0 million, Secure Electronic Technology sold 19.8 million units valued at N16.0 million, and Veritas Kapital traded 14.9 billion units for N32.9 million.