After four days of losing streak, the Nigerian equities market on Friday rebounded, as the All Share Index (NGXASI) closed with a 0.10% uptick to hit 104,962.96 points.
The improved performance of the Nigerian Exchange (NGX) trading was largely powered gains in some blue chip stocks, LINKASSURE (+10.00%), LIVESTOCK (+9.93%), MBENEFIT (+9.84%), UBA (+5.75%), and OANDO (+5.59%). Consequently, investors’ wealth grew by N65.33 billion, lifting the market capitalization to N65.81 trillion.
According to data provided on Friday’s trading by the Nigerian Exchange Group (NGX), trade activity improved as volume traded rose by 27.91%, while trade value also rose by 126.81%, with N14.17 billion exchanged for 397.20 million shares in 10,099 deals.
LINKASSURE led the top gainers, hitting the maximum daily return of 10% to close at N 1.43, pushing its week-to-date return to 13.49%. LIVESTOCK, which led the losers in the previous session, rebounded strongly with a 9.93% uptick.
According to the NGX data, sectoral performance during the day’s trading was mixed, with two out of the five indices recording increases.
Specifically, the Oil & Gas Index led the gainers, recording a 0.50% gain, driven by improvements in OANDO (+5.59%) and JAPAULGOLD (+1.01%) share prices, while the Banking Index rebounded after six consecutive loss sessions, due to by gains in UBA (+5.75%), FIDELITYBK (+5.29%), ACCESSCORP (+0.45%), and ETI (+1.38%).
Conversely, the index losers group was led by Insurance Index, which declined by 0.49% despite gains in LINKASSURE 10% and ROYALEX 2.56%. Losses in WAPIC (-9.39%), SOVRENINS (-1.06%) and REGALINS (-1.59%) weighed down the index. Also, the Consumer Goods index marginally declined, while the Industrial Goods index closed flat.
Analysis of the trading by volume reflected that FIDELITYBK dominated the volume, accounting for 15.68% of total volume with the share appreciating by 5.29% to close at N17.90. FIDELITYBK was followed by ACCESSCORP, which gained 0.45% to close at N 22.10, representing 9.65% of total volume traded.
However, on the value chart, SEPLAT dominated, accounting for 36.38% of total value traded at the close of the week’s trading sessions due to an off-market transaction. Even then, the stock price remained unchanged.
