The Nigerian Exchange (NGX) Limited managed to post a 0.50 per cent growth on Wednesday despite witnessing a weak investor sentiment.
Business Post reports that there were profit-taking activities in some key sectors of Customs Street at midweek, but bargain-hunting in the others soaked the selling pressure.
According to data, the insurance counter depleted by 0.75 per cent, the industrial goods space lost 0.02 per cent, and the consumer goods industry depreciated by 0.01 per cent.
However, the energy space improved by 0.59 per cent, the commodity index appreciated by 0.31 per cent, and the banking sector gained 0.12 per cent.
Consequently, the All-Share Index (ASI) expanded by 723.83 points to 145,719.09 points from 144,995.26 points and the market capitalisation chalked up N460 billion to close at N92.491 trillion compared with the previous day’s N92.031 trillion.
The market breadth index was negative yesterday after the bourse finished with 29 price gainers and 34 price losers led by Industrial and Medical Gases, which gave up 9.97 per cent to sell for N32.95.
LivingTrust Mortgage Bank depleted by 9.93 per cent to N5.35, Sunu Assurances shed 9.48 per cent to close at N5.25, Jaiz Bank depreciated by 7.53 per cent to N4.30, and Chams slipped by 6.28 per cent to N4.33.
Conversely, FTN Cocoa gained 8.89 per cent to quote at N6.00, Livestock Feeds jumped by 7.43 per cent to N7.95, Eterna soared by 6.96 per cent to N41.50, Prestige Assurance rose by 4.94 per cent to N1.70, and Fidelity Bank increased its value by 4.74 per cent to N21.00.
Consolidated Hallmark was busy yesterday at the market, trading 83.6 million stocks valued at N351.0 million, trailed by First Holdco, which transacted 36.5 million shares for N1.1 billion. Jaiz Bank exchanged 28.7 million equities worth N125.6 million, Chams sold 24.5 million shares valued at N106.7 million, and Ellah Lakes traded 21.4 million stocks worth N300.2 million.
At the close of trades, 525.7 million equities were sold for N13.6 billion in 25,597 deals compared with the 507.4 million equities valued at N24.3 billion transacted in 30,681 deals a day earlier, representing a spike in the trading volume by 3.61 per cent, and a shortfall in the trading value and number of deals by 44.03 per cent and 16.57 per cent apiece.