By Dipo Olowookere
The Nigerian Exchange (NGX) Limited had a narrow escape from the claws of the bears on Tuesday after it closed higher by a marginal 0.01 per cent.
This happened as investor sentiment waned yesterday, with profit-taking witnessed in the banking space, which fell by 0.21 per cent at the close of transactions.
However, bargain-hunting from the other sectors ensured that the bulls took charge of the bourse, with the insurance index rising by 0.91 per cent.
Further, the industrial goods sector appreciated by 0.76 per cent, the energy counter improved by 0.36 per cent, and the consumer goods space gained 0.09 per cent.
Consequently, the All-Share Index (ASI) moved up by 13.61 points to 97,639.88 points from 97,626.27 points and the market capitalisation expanded by N9 billion to N59.178 trillion from the preceding day’s N59.169 trillion.
The market breadth index was negative during the trading session as Customs Street ended with 24 price gainers and 25 price losers.
Haldane McCall topped the gainers’ chart after it chalked up 9.98 per cent to trade at N6.17, Sunu Assurances grew by 9.80 per cent to N3.81, Japaul increased its value by 9.72 per cent to N2.37, Prestige Assurance jumped by 9.64 per cent to 91 Kobo, and Neimeth leapt by 9.55 per cent to N2.18.
Conversely, Multiverse lost 9.92 per cent to finish at N5.90, Tantalizers slowed by 9.30 per cent to N1.17, UPDC REIT tumbled by 9.01 per cent to N5.05, Universal Insurance retreated by 5.88 per cent to 32 Kobo, and RT Briscoe fell by 5.67 per cent to N2.66.
Yesterday, investors transacted 552.1 million stocks valued at N8.0 billion in 9,305 deals versus the 671.3 million stocks sold for N10.6 billion in 10,464 deals a day earlier, representing a decline of 17.75 per cent, 24.53 per cent, and 11.08 per cent in the trading volume, value and number of deals, respectively.
The most traded equity for the day was Haldane McCall, which exchanged 177.1 million units for N1.1 billion, followed by Tantalizers with 37.0 million units sold for N46.7 million, UBA transacted 29.6 million units valued at N947.3 million, Prestige Assurance traded 28.6 million units worth N25.6 million, and FBN Holdings transacted 21.5 million units valued at N536.2 million.