The Nigerian Exchange Limited recorded an appreciation of 0.12% on Friday, offsetting the losses from the previous day that were brought on by profit-taking in the banking industry.
According to Business Post, the growth reported on Sunday—a 1.60 percent increase, was driven by the same banking sector and was helped by a 0.15 percent increase in the consumer goods index.
Nevertheless, during the final trading session of the week, there were isolated instances of profit-taking, as the insurance, industrial goods, and energy counters all saw percentage declines of 0.78, 0.65, and 0.57.
As a result, there were 22 price gains and 35 price losers on the exchange, indicating a negative market breadth index and a weak investor sentiment.
Multiverse climbed by 9.95 percent to N9.39, while Infinity Trust Mortgage Bank gained 9.94 percent to N1.77, PZ Cussons gained 9.87 percent to N25.60, Ecobank gained 9.79 percent to N20.75, and Champion Breweries gained 9.09 percent to trade at N3.60. Multiverse topped the gainers’ table.
However, after losing ten percent to close at N23.85, FBN Holdings topped the losers’ chart. MRS Oil fell ninety-six percent to N99.00, Learn Africa lost ninety-two percent to N3.03, Neimeth lost ninety-two percent to N1.90, and NPF Microfinance Bank lost ninety-seven percent to N1.93.
During the day, investors traded 503.8 million shares worth N7.2 billion in 5,747 deals, compared to 436.6 million shares worth N7.6 billion traded in 7,096 deals on Thursday, implying a 15.39 percent increase in trading volume, a 5.26 percent decrease in trading value, and a 19.01 percent decrease in the number of deals.
Sunday’s busiest stocks were Veritas Kapital (17.4 million units valued at N17.4 million), Mutual Benefits (67.3 million units worth N33.7 million), UAC Nigeria (50.3 million units for N772.7 million), Regency Alliance (70.2 million units valued at N25.9 million), and Nigerian Breweries (28.6 million units worth N1.1 billion).
Following the session’s closing of the market, the All-Share Index increased by 83.82 points to 71,541.74 points from 71,457.92 points, and the market capitalization gained N46 billion to close at N39.149 trillion compared with the previous day’s N39.103 trillion.
