The Nigerian Exchange (NGX) Limited closed in positive territory for the first time this week on Thursday, rising 0.03 percent on renewed bargain-hunting.
The market was buoyed by buying pressure in the consumer and industrial goods sectors, which rose by 0.20 and 0.09 percent, respectively. During the session, the insurance sector gained 0.20 percent.
However, the banking index fell 0.82 percent and the energy index fell 0.39 percent.
It was discovered that the losses printed by the two sectors could not bring the bourse down because the other three counters provided the necessary support.
As a result, the All-Share Index (ASI) increased 14.06 points to 44,332.21 points from 44,318.15 points, while market capitalisation increased by N8 billion to N24.147 trillion from N24.139 trillion.
During the trading day, investors traded 119.2 million shares worth N3.2 billion in 2,909 deals, compared to 165.4 million shares worth N3.7 billion traded in 3,183 deals during the midweek session, indicating a decrease in trading volume, value, and a number of deals by 27.90%, 12.87%, and 8.61%, respectively.
Fidelity Bank was the busiest equity on Thursday, selling 39.4 million shares, followed by GTCO, which sold 8.3 million shares. Japaul traded 6.8 million shares, Jaiz Bank 4.4 million stocks, and Access Holdings 4.4 million stocks.
It was reported that the market breadth was at equilibrium yesterday as the exchange finished with the same number of price losers and gainers, 17.
CWG gained 9.59 per cent to sell at 80 Kobo, UPDC REIT appreciated by 8.93 per cent to trade at N3.05, Japaul went up by 7.69 per cent to close at 28 Kobo, Coronation Insurance chalked up 5.88 per cent to sell for 36 Kobo, and Dangote Sugar expanded by 3.92 per cent to trade at N15.90.
On the losers’ chart, Beta Glass was on top after it lost 9.98 per cent to settle at N41.50, Aluminium Extrusion Industries depreciated by 9.72 per cent to end at N6.50, Mutual Benefits went down by 9.68 per cent to 28 Kobo, RT Briscoe also declined by 9.68 per cent to finish at 28 Kobo, and Regency Assurance retreated by 7.69 per cent to 24 Kobo.
