Nigerian stock market rises 0.05% as number of deals rises

The Nigerian Exchange (NGX) Limited’s trade indices closed positive on Thursday, as it rose 0.05 percent at the close of trading.

Investors were noted to have shown interest in the Nigerian stock market during the session, although the level of activity declined, according to data obtained by Commercial mail.

A total of 132.6 million shares worth N3.1 billion traded hands in 2,999 deals yesterday compared to 411.2 million shares worth N6.4 billion traded in 2,992 deals in the mid-term session. week.

This showed that the volume of transactions decreased by 67.75 percent, the value of transactions depreciated by 51.56 percent, and the number of transactions increased by 0.23 percent.

A breakdown of trading indicated that FBN Holdings was the most active stock during the session, selling 29.1 million units, while Sterling Bank traded 18.4 million units. Nigerian Breweries sold 10.5 million units, GTCO traded 6.6 million units and Fidelity Bank traded 5.4 million units.

The main driver of the stock’s bullish performance on Thursday was buying interest in shares in the energy and consumer goods sectors, which rose 0.26 percent and 0.04 percent each.

They offset the losses of 0.31%, 0.21% and 0.11% registered by the insurance, industrial goods and banking sectors, respectively.

As the exchange ended the trading day, the All-Share Index (ASI) increased by 24.00 points to 49,499.43 points from 49,475.43 points, while the market capitalization increased by N13 billion to N26,961 trillion from N26.948 trillion.

Investor sentiment remained slightly strong as the market breadth closed positive with 15 price losers and 17 price winners led by Julius Berger, which appreciated 9.91 percent to N23.30. Champion Breweries rose 9.30% to N4.70, Ardova gained 9.20% to trade at N19.00, Thomas Wyatt rose 8.82% to 74 Kobo and Japaul improved 7.69% to 28 Kobo.

By contrast, UPDC REIT suffered the biggest loss during the session after its price fell 6.45 percent to N2.90. Lasaco Assurance fell 5.56% to 85 Kobo, University Press depreciated 5.26% to N1.80, Coronation Insurance was down 5.00% to 38 Kobo and Oando fell 2.56% to N3.80.

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