Naira appreciates N414.07 / $ 1 as Bitcoin hits $ 66,000
By Dipo Olowookere
The country’s stock market rebounded 0.26 percent on Wednesday after falling 0.71 percent on Monday, which was the last trading session as the stock market was closed on Tuesday for a public holiday in Nigeria.
Investors were in high spirits yesterday when they returned to the market and this was reflected in the level of activity as trading volume rose 47.47 percent to 499.5 million shares on 338.7 million shares, the value of transactions increased 25.16 percent to N5.1 billion from N4.1 billion, while the number of transactions increased by 2.25 percent 5,998 transactions of 5 866 transactions.
Business post reports that at the close of trading, FBN Holdings was the most traded stock with the sale of 147.6 million units valued at 1.8 billion naira, followed by eTranzact, which traded 105.2 million units worth 215.6 million naira.
In addition, Access Bank sold 27.9 million units worth 266.0 million naira, Transcorp traded 22.3 million units worth 22.8 million naira, while GTCO recorded sales of 20.6 million shares worth 612.9 million Naira.
It was observed that the market closed in positive territory due to the growth shown by the Nigerian Exchange (NGX) Group Plc as its share price rose 10.00 percent to stand at 21. 45 N.
GlaxoSmithKline rose 6.87 percent to N7.00, NPF Microfinance Bank gained 5.85 percent to trade at N1.81, Coronation Insurance rose 4.17 percent to 50 kobo, while FBN Holdings s ‘is appreciated by 3.83 percent at N12.20.
On the other hand, Prestige Assurance was the worst loser as its value depreciated 8.51% to 43 kobo, Consolidated Hallmark Insurance fell 8.33% to 55 kobo, Academy Press also fell 8 , 33% to 33 kobo, Cadbury Nigeria lost 5.88 percent to sell for N8.00, while Union Bank fell 5.66 percent to N5.00.
In total, a total of 21 stocks closed on the winners chart while 18 stocks ended on the losers chart, indicating positive market width and investor sentiment.
However, three of the top five market sectors closed lower, with energy, consumer goods and banking counters losing 0.39%, 0.24% and 0.20% respectively, while the sectors insurance and industrial goods increased by 0.58% and 0.04. percent each.
At the close of trading, the All-Share Index (ASI) improved 105.04 points to 41,249.71 points from 41,144.67 points, while market capitalization increased by 54 billion naira to 21,526 billion naira against 21.472 billion naira.