By Dipo Olowookere
The Nigerian Exchange (NGX) Limited appreciated by 0.23 per cent on Tuesday on the back of a buying pressure in the banking sector, especially in FBN Holdings.
During the session, investors gained N131 billion as the market capitalisation ended at N56.133 trillion compared with the preceding session’s N56.002 trillion.
In the same vein, the All-Share Index (ASI) appreciated by 229.02 points to settle at 97,685.64 points, in contrast to the previous trading day’s 97,456.62 points.
Business Post reports that the bears and the bulls shared the spoils yesterday after the bourse ended with 26 price gainers and 26 price losers.
Flour Mills and FBN Holdings improved by 10.00 per cent each during the session to quote at N59.95 and N31.90 apiece, Vitafoam grew by 9.94 per cent to N19.90, Caverton appreciated by 9.84 per cent to N2.79, and Honeywell Flour expanded by 9.82 per cent to N4.92.
Conversely, Eterna fell by 10.00 per cent to N27.90, Oando depreciated by 9.94 per cent to N80.20, Abbey Mortgage Bank declined by 9.88 per cent to N2.28, Tantalizers shrank by 9.86 per cent to 64 Kobo, and Mecure Industries went down by 9.63 per cent to N8.45.
On Tuesday, the banking index gained 1.45 per cent and the consumer goods counter appreciated by 0.94 per cent, as the insurance space weakened by 1.52 per cent and the energy sector fell by 0.62 per cent.
The activity chart in green yesterday after the trading volume, value and the number of deals increased by 14.14 per cent, 44.62 per cent and 37.07 per cent, respectively.
A total of 471.3 million stocks valued at N9.4 billion exchanged hands in 12,066 deals on Tuesday versus the 412.9 million stocks worth N6.5 billion transacted in 8,803 deals in the preceding session.
Japual was the busiest after selling 72.3 million equities worth N178.3 million, Transcorp exchanged 51.8 million shares valued at N562.1 million, FBN Holdings traded 46.8 million stocks for N1.5 billion, UBA transacted 45.6 million equities worth N1.1 billion, and Oando traded 16.6 million shares valued at N1.4 billion.