By Dipo Olowookere
The Nigerian Exchange (NGX) Limited rebounded by 0.13 per cent on Friday on the back of renewed buying interest in banking and industrial goods stocks.
Business Post observed that the local bourse closed higher yesterday despite a pocket of profit-taking in the other counters at the close of trading activities.
The banking index appreciated by 1.06 per cent and the industrial goods space improved by 0.01 per cent, while the consumer goods counter and the insurance sector depreciated by 0.18 per cent and 0.05 per cent, while the energy industry closed flat.
At the close of business, the All-Share Index (ASI) leapt by 129.44 points to finish at 97,606.63 points versus Thursday’s 97,477.19 points and the market capitalisation grew by N74 billion to end at N56.088 trillion, in contrast to the preceding day’s N56.014 trillion.
The best-performing equity for the last trading day of the week was Sterling Holdings after it gained 9.45 per cent to settle at N4.98, Consolidated Hallmark also increased by 9.45 per cent to N1.39, MeCure Industries rose by 9.19 per cent to N10.10, Regency Alliance improved by 9.09 per cent to 72 Kobo, and Fidson chalked up 8.24 per cent to trade at N15.10.
The worst-performing equity yesterday was Deap Capital, which retreated by 9.93 per cent to N1.36, NEM Insurance crashed by 9.71 per cent to N7.90, DAAR Communications slumped by 9.52 per cent to 57 Kobo, Tantalizers lost 9.09 per cent to quote at 60 Kobo, and Dangote Sugar slipped by 3.13 per cent to settle at N31.00.
Investor sentiment was bullish during the trading session after Customs Street ended with 31 price gainers and 19 price losers, representing a positive market breadth index.
Yesterday, investors bought and sold 304.4 million shares valued at N5.6 billion in 6,950 deals compared with the 277.8 million shares worth N4.7 billion traded in 7,091 deals in the previous day, implying a decline in the number of deals by 1.99 per cent and a rise in the trading volume and value by 9.56 per cent, and 19.15 per cent, respectively.
Access Holdings led the activity chart with the sale of 68.3 million stocks worth N1.3 billion, Fidelity Bank transacted 43.2 million shares valued at N630.1 million, UBA exchanged 25.4 million equities for N675.9 million, Zenith Bank traded 19.7 million stocks worth N739.2 million, and Sterling Holdings sold 12.5 million equities valued at N60.1 million.