NNFM, Dangote Sugar Lift Customs Street by 0.09%

The market had been under selling pressure since last Friday but things changed yesterday after bargain-hunting activities helped Customs Street record its first gain of this week.

Data showed that the industrial goods index gained 1.39 per cent, the banking space appreciated by 0.22 per cent, and the consumer goods counter expanded by 0.20 per cent.

However, the energy sector went down yesterday by 2.49 per cent, and the insurance industry depreciated by 1.27 per cent at the close of business.

When the market closed by 2:30 pm, the All-Share Index (ASI) increased by 87.11 points to 102,183.06 points from 102,095.95 points and the market capitalisation jumped by N53 billion to N62.310 trillion from N62.257 trillion.

Business Post observed that despite the growth during the session, investor sentiment remained bearish as the bourse finished with 26 price losers and 35 price gainers, implying a negative market breadth index.

Northern Nigerian Flour Mills improved its value by 10.00 per cent on Thursday to N54.45, Dangote Sugar soared by 9.91 per cent to N40.50, The Initiates rose by 9.80 per cent to N2.80, John Holt expanded by 9.80 per cent to N9.30, and Omatek grew by 9.76 per cent to 90 Kobo.

On the flip side, Livestock Feeds declined by 10.00 per cent to N5.40, Eunisell slumped by 9.97 per cent to N15.62, Neimeth tumbled by 9.83 per cent to N3.12, Regency Alliance lost 9.33 per cent to trade at 68 Kobo, and Honeywell Flour depreciated by 9.26 per cent to N9.21.

Yesterday, GTCO was the busiest equity with a turnover of 65.1 million units worth N3.8 billion, Universal Insurance traded 48.6 million units valued at N28.5 million, Fidelity Bank sold 45.9 million units for N802.8 million, Access Holdings exchanged 27.3 million units worth N668.1 million, and NASCON transacted 26.7 million units valued at N1.1 billion.

At the close of transactions, a total of 472.2 million equities worth N16.7 billion exchanged hands in 12,336 deals compared with the 435.5 million equities valued at N9.4 billion traded in 12,098 deals on Wednesday, showing an improvement in the trading volume, value and number of deals by 8.47 per cent, 77.66 per cent and 1.97 per cent, respectively.