By Dipo Olowookere
Investors in the country’s stock market gained 3 billion naira on Thursday following the marginal 0.01 percent appreciation recorded at the Nigerian Exchange (NGX) Limited.
As a result, the market capitalization expanded to 21.825 billion naira from 21.822 billion naira as the All-Share Index (ASI) rose 6.17 points to 41.813.27 points from 41807, 10 points.
Gains were boosted by the purchase of interests in financial stocks, with the insurance sector increasing 2.24 percent and banking space appreciating 0.52 percent.
Unfortunately, the energy meter lost 0.78 percent, the consumer goods sector fell 0.27 percent, while the industrial goods index fell 0.06 percent.
The market size was positive yesterday as there were 12 depreciating stocks and 21 appreciating stocks led by Consolidated Hallmark Insurance, which rose 10.00% to 77kobo.
Mutual Benefits rose 9.68% to 34kobo, Regency Insurance rose 9.30% to 47kobo, Unity Bank gained 8.33% to sell to 52kobo, while Coronation Insurance jumped 8 , 16% at 53 kobo.
On the flip side, FTN Cocoa closed the session as the biggest price loser, depreciating 7.50 percent to trade at 37 kobo and was followed behind by Veritas Kapital, which fell 4. 76 percent at 20 kobo.
In addition, Royal Exchange depreciated 4.76% to 80 kobo, Ecobank lost 3.47% to quote at 8.35 N, while Ardova fell 2.99% to 13.00 N.
Jaiz Bank ended the day as the most traded stock with turnover of 97.8 million units valued at 53.2 million naira, followed by Access Bank, which traded 34.1 million d ‘shares worth 308.4 million naira.
Sterling Bank traded 30.5 million shares valued at 44.9 million naira, UPDC REIT traded 15.5 million shares for 61.5 million naira, while the NGX group traded 15.0 million of shares for 299.2 million naira.
At the close of business, a total of 360.0 million shares worth 1.8 billion naira were traded in 3,607 deals, unlike 180.2 million shares worth 1 , 5 billion naira traded in 3,828 transactions a day earlier, indicating an increase in trading volume and value of 99.78 percent and 24.53 percent respectively, while the number of trades depreciated by 5 , 77 percent.