Press "Enter" to skip to content

Stock Market Closes Flat Amid Strong Investor Sentiment

The Nigerian Exchange (NGX) Limited failed to finish in the green territory on Friday, though investor sentiment improved as the number of price gainers outweighed the price losers, indicating a positive market breadth.

The stock market closed flat yesterday, though the level of activity increased, with the trading volume rising by 14.35 per cent, the trading value growing by 6.67 per cent, and the number of deals declining by 15.39 per cent.

This was because investors transacted 157.0 million shares worth N1.6 billion in 2,952 deals compared with the 137.3 million shares worth N1.5 billion transacted in 3,489 deals.

Capital Hotel traded 36.4 million shares during the session, UBA exchanged 17.9 million stocks, Access Holdings traded 14.7 million equities, Fidelity Bank sold 10.3 million shares, and AIICO Insurance transacted 10.1 million equities.

Multiverse topped the losers’ table on the last trading session of the week after it depreciated by 9.92 per cent to close at N3.45, Veritas Kapital lost 4.76 per cent to quote at 20 Kobo, Chams declined by 4.00 per cent to 24 Kobo, Access Holdings went down by 2.33 per cent to N8.40, and Sterling Bank depleted by 1.95 per cent to N1.51.

The biggest price gainer was United Capital as it rose by 9.91 per cent to N12.20, Prestige Assurance grew by 9.76 per cent to 45 Kobo, Royal Exchange went up by 7.46 per cent to 72 Kobo, Livestock Feeds improved by 6.86 per cent to N1.09, and RT Briscoe expanded by 4.17 per cent to 25 Kobo.

According to data from the local bourse, the energy sector closed flat, as the banking space appreciated by 0.37 per cent, the insurance counter went up by 0.07 per cent, the consumer goods index jumped by 0.03 per cent, and the industrial goods counter chalked up by 0.02 per cent.

Business Post reports that the All-Share Index (ASI) marginally dropped 0.22 points to settle at 54915.39 points versus Thursday’s 54,915.61 points as the market capitalisation remained unchanged at N29.916 trillion.



Spread the love