The last trading session of the week on the Nigerian Exchange (NGX) floor ended on a positive note on Friday, with a 1.09 percent increase, boosted by Nigerian Breweries and other stocks.
Renewed bargain-hunting in the brewery company’s and 20 other companies’ equities increased the All-Share Index (ASI) of the bourse by 481.51 points yesterday to 44,492.73 points from 44,011.22 points, as market capitalisation increased by N262 billion to N24.234 trillion from N23.972 trillion due to positive performance across all sectors.
According to Entrepreneurng, the consumer goods index increased by 1.27 percent, the banking sector increased by 0.48 percent, the energy counter increased by 0.42 percent, and the insurance sector increased by 0.17 percent, with the industrial goods counter remaining flat.
According to stock market data, investor sentiment was very high yesterday, as the market breadth closed positive. Only 11 people were price losers.
Nigerian Breweries increased by 10% to trade at N41.25, Union Bank increased by 9.24% to N6.50, ABC Transport increased by 8.70% to 25 Kobo, Axa Mansard increased by 7.27% to N1.77, and United Capital increased by 6.64% to N12.05.
Fidson, on the other hand, suffered the greatest loss, falling 9.34 percent to close at N8.15. Coronation Insurance fell 8.33 percent to 33 Kobo, Regency Assurance fell 8.00 percent to 23 Kobo, Sovereign Trust Insurance fell 7.69 percent to 24 Kobo, and Mutual Benefits fell 3.57 percent to 27 Kobo.
Transcorp drew the most attention from investors during the week’s final session, selling the most shares with a turnover of 24.4 million units.
FBN Holdings sold 21.8 million units, Courteville sold 17.0 million shares, Fidelity Bank sold 12.6 million stocks, and Linkage Assurance sold 8.0 million shares.
Trading data revealed that the volume of trades increased by 50.13 percent yesterday, the value of trades increased by 45.76 percent, and the number of deals increased by 1.61 percent.
Traders bought and sold 146.7 million stocks worth N1.2 billion in 3,028 transactions at the close of business, compared to 97.7 million stocks worth N847.9 million traded in 2,980 transactions on Thursday.
