By Munachimso Obienyi
Proceedings at the floor of the Nigerian Exchange Limited (NGX) rebounded, albeit with a bullish tilt as the benchmark index closed marginally higher (+0.03 per cent) at 44,332.38 points.
Gains in WAPCO (2.12 per cent), Stanbic (+3.57 per cent) and Dangote Sugar (+3.92 per cent) offset the declines recorded in Zenith Bank (-0.74 per cent) and AccessCorp (-1.81 per cent).
Despite the gain, investigations by NwafoLive revealed that the stock market remains on track for a weekly loss. As a result, the year-to-date (YTD) return stood at 3.78 per cent, while the market capitalisation rose by N7.24 billion to close at N24.146 trillion.
At the close of business yesterday, trade turnover settled lower relative to the previous session, with the value of transactions down by 12.87 per cent.
A total of 119.22 million units of shares valued at N3.20 billion were exchanged in 2,909 deals.
Fidelity Bank topped the activity chart with the sale of 39.36 million shares worth N149.02 million. GTCO followed with the sale of 83.19 million shares valued at N153.39 million while Japaul Gold traded 67.69 million shares valued at N18.53 million.
Investors’ appetite remained mixed as 17 stocks depreciated in value while 16 others appreciated.
BetaGlass topped the losers’ chart with 9.98 per cent to close at N41.50 per share. ALEX followed with 9.72 per cent to close at N6.50, RTBriscoe dropped 9.68 per cent to close at 0.28 kobo, Mutual Benefits lost 9.68 per cent to close at 0.28 kobo while Regal Insurance fell by 7.69 per cent to close at 0.24 kobo.
