The Nigerian Exchange closed in positive territory on Thursday, adding N240bn to its market capitalisation despite a slowdown in trading volume, turnover, and deal numbers.
At the close of the session, the All-Share Index rose by 382.13 points or 0.35 per cent to settle at 109,231.96 points. This brought the market’s one-week return to 3.24 per cent, four-week return to 4.81 per cent, and year-to-date return to 6.13 per cent. The market capitalisation increased to N68.7tn.
A total of 554.1 million shares valued at N14.3bn were traded in 16,704 deals, reflecting a six per cent drop in volume, a 23 per cent drop in turnover, and a five per cent decrease in deals when compared with the previous day’s performance.
In all, 128 listed equities participated in the day’s trading, with 38 gainers and 21 losers
Beta Glass Plc led the gainers’ chart with a 10 per cent increase to close at N160.65 per share. It was followed by Chellarams Plc, which gained 10 per cent to close at N9.46.
International Energy Insurance Plc appreciated by 9.93 per cent to close at N1.66, while May & Baker Nigeria Plc rose by 9.78 per cent to N10.10.
Academy Press Plc also gained 9.78 per cent to settle at N3.93, followed by University Press Plc, which rose by 9.77 per cent to close at N4.83.
On the losers’ side, Abbey Mortgage Bank Plc declined by 10 per cent to close at N7.47 per share. Livestock Feeds Plc shed 9.77 per cent to close at N7.85, followed by Legend Internet Technologies Plc, which fell by 8.5 per cent to N9.15.
Deap Capital Management and Trust Plc lost 6.48 per cent to close at N1.01, while VFD Group Plc dipped by 5.88 per cent to N16.00, and Tantalizers Plc dropped 5.74 per cent to N2.30.
In terms of volume, Fidelity Bank Plc recorded the highest turnover with 69.8 million shares traded. It was followed by Access Holdings Plc with 65.8 million shares, Tantalizers Plc with 55.1 million shares, and Guaranty Trust Holding Company Plc with 46 million shares.
Sector performance was mostly positive, as the Banking Index rose by 1.02 per cent and the Industrial Index climbed by 0.98 per cent. The Premium Index appreciated by 0.73 per cent, while the Insurance Index advanced by 0.33 per cent. The Pension Index also recorded a modest gain of 0.25 per cent.
The PUNCH reported that equities trading on the Nigerian Exchange Limited opened the week on a strong note as investors gained N307bn in market value on Monday, reflecting improved appetite for stocks across key sectors of the market.