The stock market of the Nigerian Exchange Limited (NGX) closed transactions on a positive note, rebounding from the five consecutive bearish trading days.
In summary, the NGX All-Share Index (ASI) grew by 132.74 basis points or 0.28 percent to close at 47,287.09 basis points, while the overall market capitalization value gained N71 billion to close at N25.485 trillion.
Sector performances were mixed with the NGX Consumer Goods appreciating by 2.07per cent and NGX Oil and Gas also grew by 0.11per cent sectors closing positively, while the Banking depreciated by 0.04per cent and Industrial goods dropped by 0.01per cent to close in the red zone.
The market breadth was positive as 30 stocks advanced against 12 stocks that declined. Presco recorded the highest price gain of 10 percent to close at N114.95, per share.
Pharma Deko followed with a gain 9.89 percent to close at N2.00, while Linkage Assurance up by 9.80 percent to close at 56 kobo, per share.
Royal Exchange rose by 9.63 percent each to close at N1.48, while R.T. Briscoe Nigeria appreciated by 8.93 percent to close at 61 kobo per share.
On the other hand, Ellah Lakes Plc led the losers’ chart by 9.92 percent, to close at 3.45, per share. May & Baker Nigeria followed with a decline of 9.91 percent to close at N4.91, while Neimeth International Pharmaceuticals declined by 9.34 percent to close at N1.65, per share.
Niger Insurance shed 8.70 percent to close at 21 kobo, while Cutix Plc depreciated by 7.26 percent to close at N2.30, per share.
However, the total volume of trades fell by 55.45 percent to 336.305 million units, valued at N5.860 billion, and exchanged in 5,248 deals.
Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 108.615 million shares valued at N1.249 billion.
Guaranty Trust Holding Company (GTCO) followed with 54.134 million shares worth N1.428 billion, while United Capital traded 25.292 million shares valued at N308.508 million.
Zenith Bank traded 22.292 million shares valued at N595.015 million, while Caverton Offshore Support Group transacted 14.946 million shares worth N19.043 million.
According to analysts at GTI Securities Limited: “The Nigerian domestic market rallied after a five-day bearish sentiment, as the risk of the Russian-Ukrainian war still weighs on investors. However, we expect bulls to trade-off on the market given the spate of corporate actions.”
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