By Dipo Olowookere
The All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited appreciated by 0.07 per cent or 63.83 points on Monday to cross the 96,000 points threshold again.
Exactly a week ago, the NGX index fell below this psychological market when it shed 1.36 per cent to settle at 95,832.29 points from the preceding session’s 97,100.31 points.
Yesterday, after a positive performance, buoyed by bargain-hunting across the major sectors of the bourse, it closed at 96,037.28 points compared with last Friday’s 95,973.45 points.
Buying pressure witnessed at the stock exchange increased its value by N37 billion, with the market capitalisation finishing at N55.166 trillion, in contrast to the preceding session’s N55.129 trillion.
Apart from the banking space, which suffered a 0.41 per cent decline due to profit-taking, particularly in Access Holdings, every other sector closed higher.
The consumer goods index jumped by 1.83 per cent, the insurance sector improved by 1.05 per cent, the energy counter appreciated by 0.73 per cent, and the industrial goods space grew by 0.01 per cent.
Investor sentiment was strong during the opening session of the week, with the market breadth bullish after closing with 28 price gainers and 18 price losers.
Eterna advanced by 10.00 per cent to N23.10, Okomu Oil rose by 9.99 per cent to N379.80, RT Briscoe gained 9.96 per cent to N2.98, Oando expanded by 9.93 per cent to N52.60, and Japaul increased by 9.73 per cent to N2.48.
On the flip side, Transcorp Power lost 9.99 per cent to trade at N335.20, Abbey Mortgage Bank declined by 9.69 per cent to N2.33, United Capital dropped 8.35 per cent to quote at N18.10, University Press receded by 5.51 per cent to N2.40, and Unilever Nigeria retreated by 5.26 per cent to N18.00.
During the trading day, investors transacted 390.5 million stocks valued at N3.9 billion in 9,242 deals versus the 327.3 million stocks worth N4.6 billion traded in 7,351 deals last Friday, representing a decline in the trading value by 15.22 per cent, and a surge in the trading volume and number of deals by 19.31 per cent and 25.72 per cent, respectively.
Veritas Kapital emerged as the busiest equity after it sold 67.3 million units for N90.3 million, Japaul traded 23.9 million units valued at N58.3 million, FCMB exchanged 20.5 million units worth N155.7 million, Prestige Assurance transacted 20.2 million units valued at N10.4 million, and Chams traded 18.3 million units worth N38.8 million.