The Nigerian Exchange (NGX) Limited returned to winning ways on Wednesday after a brief detour to the bears to book profit.
At midweek, the local bourse rebounded by 0.48 per cent following renewed bargain-hunting in energy sector, which closed higher by 3.21 per cent at the close of transactions.
In addition, the insurance counter appreciated yesterday by 1.60 per cent, and the industrial goods space gained 0.81 per cent on the back of buying interest in Lafarge Africa, which attracted a new investor recently.
However, the consumer goods and the banking counters witnessed profit-taking during the session to leave their respective indices lower at 0.17 per cent and 0.07 per cent, respectively.
When the closing gong was struck by 2:30 pm on Wednesday, the All-Share Index (ASI) was down by 472.43 points to 98,174.99 points from 97,702.56 points and the market capitalisation depleted by N286 billion to N59.512 trillion from Tuesday’s N59.226 trillion.
Business Post reports that Customs Street finished with 42 price gainers and 21 price losers yesterday, implying a positive market breadth index and strong sentiment.
Golden Guinea Breweries appreciated by 9.83 per cent to N4.47, Thomas Wyatt improved by 9.83 per cent to N1.90, FTN Cocoa gained 9.50 per cent to sell for N1.96, Deap Capital grew by 9.43 per cent to N1.16, and NEM Insurance rose by 9.30 per cent to N9.40.
However, Sunu Assurances slumped by 9.85 per cent to N4.21, Learn Africa plunged by 9.85 per cent to N2.93, Haldane McCall tumbled by 9.15 per cent to N5.86, PZ Cussons crashed by 8.71 per cent to N22.00, and Sterling Holdings slipped by 7.16 per cent to N4.41.
Equity traders bought and sold 521.9 million stocks valued at N19.9 billion in 9,420 deals compared with the 1.2 billion stocks worth N27.4 billion traded in 9,403 deals a day earlier, indicating a jump in the number of deals by 0.18 per cent and a drop in the trading volume and value by 54.86 per cent and 27.37 per cent, respectively.
The most active equity at midweek was Tantalizers with a turnover of 88.3 million units sold for N108.3 million, Lafarge Africa transacted 57.2 million units valued at N4.2 billion, Access Holdings traded 41.0 million units worth N986.5 million, Cutix exchanged 37.1 million units valued at N85.4 million, and UBA traded 34.0 million units worth N1.1 billion.