By Dipo Olowookere
The Nigerian Trade (NGX) Restricted sustained its constructive momentum on Wednesday on the again of shopping for curiosity in MTN Nigeria, Ecobank, Honeywell Flour, Dangote Sugar and others.
The patronage loved by these shares and 16 others resulted within the 0.99 per cent progress printed by the buying and selling platform yesterday, boosting the boldness of traders available in the market, which recorded a sequence of losses final week.
Because of this, the All-Share Index (ASI) elevated by 416.24 factors to 42,435.16 factors from 42,018.92 factors, whereas the market capitalisation grew by N218 billion to N22.143 trillion from N21.925 trillion.
Topping the gainers’ chart yesterday was Livingtrust Mortgage Financial institution as its worth jumped 9.09 per cent to 96 kobo, trailed by Meyer, which grew by 7.69 per cent to twenty-eight kobo.
Axa Mansard appreciated by 7.25 per cent to N2.22, Dangote Sugar went up by 6.67 per cent to N16.00, whereas Honeywell Flour chalked up 6.51 per cent to commerce at N3.60.
On high of the losers’ desk in the course of the session on the inventory market was Cutix on account of the 9.69 per cent loss it recorded, closing at N2.61.
Royal Trade fell by 8.06 per cent to 57 kobo, Mutual Advantages depreciated by 7.69 per cent to 24 kobo, Sovereign Belief Insurance coverage dropped 4.17 per cent to 23 kobo, whereas NAHCO declined by 2.51 per cent to N3.50.
Business Post experiences that, in contrast to the previous session, the 5 key sectors of the market closed bullish, with the banking, power, insurance coverage, client items and industrial items counters ending greater by 1.83 per cent, 1.14 per cent, 0.62 per cent, 0.41 per cent and 0.10 per cent respectively.
The latest heavy trades in FBN Holdings continued on Thursday and this can be related to the silent management tussle between two billionaires combating to take cost of the boardroom politics.
The corporate traded 411.9 million shares price N5.0 billion, Sterling Financial institution transacted 64.4 million shares valued at N95.9 million, GTCO transacted 20.7 million equities price N501.4 million, UBA offered 14.7 million shares for N116.0 million, whereas Entry Financial institution exchanged 12.3 million shares valued at N110.6 million.
In all, a complete of 649.8 million equities price N7.2 billion exchanged fingers in 3,757 offers yesterday as towards the 639.4 million equities valued at N6.6 billion transacted in 4,564 offers on Tuesday.
This confirmed that the amount and worth of trades appreciated by 1.61 per cent and eight.71 per cent respectively, whereas the variety of offers depreciated by 17.68 per cent.