By Dipo Olowookere
The Nigerian Exchange (NGX) Limited rose further on Monday by 0.14 per cent, the third consecutive trading days the bourse has ended in the green territory.
However, investor sentiment was weak after Customs Street ended with 24 price gainers and 27 price losers, indicating a negative market breadth index.
Business Post reports that the positive outcome witnessed by the market yesterday was due to the increase of 0.23 per cent and 0.16 per cent reported by the insurance and energy counters, respectively.
The banking space lost 0.81 per cent, the consumer goods index depreciated by 0.10 per cent, and the industrial goods counter slumped by 0.03 per cent as a result of profit-taking.
When the market closed for the day, the All-Share Index (ASI) grew by 138.06 points to 97,374.25 points from 97,236.19 points and the market capitalisation increased by N84 billion to N59.004 trillion from N58.920 trillion.
Yesterday, Eunisell maintained upward movement after it gained 10.00 per cent to finish at N9.02, Aradel Holdings expanded by 9.99 per cent to N533.80, John Holt rose by 9.98 per cent to N5.29, Deap Capital jumped by 9.35 per cent to N1.17, and Custodian Investment advanced by 8.62 per cent to N12.60.
On the flip side, United Capital lost 9.78 per cent to quote at N16.15, Sovereign Trust Insurance retreated by 7.25 per cent to 64 Kobo, Prestige Assurance slumped by 6.67 per cent to 56 Kobo, Consolidated Hallmark contracted by 5.88 per cent to N1.60, and Tripple G depleted by 5.49 per cent to N1.72.
Investors transacted 297.8 million shares worth N7.5 billion in 9,902 deals during the session versus the 478.9 million shares valued at N9.4 billion traded in the preceding session in 9,015 deals, representing a rise in the number of deals by 9.84 per cent and a decline in the trading volume and value by 37.82 per cent and 20.21 per cent, respectively.
Sterling Holdings was the most traded equity on Monday with 36.1 million units valued at N180.9 million, UBA transacted 33.5 million units for N1.0 billion, Access Holdings exchanged 24.6 million units valued at N590.1 million, Flour Mills sold 15.0 million units worth N977.3 million, and FBN Holdings traded 14.5 million units for N398.3 million.