By Dipo Olowookere
The bulls extended their stay on the trading floor of the Nigerian Exchange (NGX) Limited on Wednesday after growth of 0.12%, largely driven by MTN Nigeria, GTCO, Oando and Honeywell Flour Mills.
Business post reports that despite the positive market results, investor sentiment has always remained negative as there were 18 losers and 14 prize winners led by the UPDC, which rose 9.64 percent to 1.82 N.
Flour mills in northern Nigeria appreciated 9.59% to 8.00 N, Oando increased 6.21% to 4.62 N, Learn Africa improved 5.88% to 1, 44 N, while Honeywell Flour increased 3.83% to 4.07 N.
Conversely, Transcorp Hotels lost 10.00% to settle at 4.50 N, Consolidated Hallmark Insurance fell 9.43% to 48 kobo, Prestige Assurance fell 8.33% to trade at 44 kobo, Champion Breweries was down 8.17% to N1. 91, while Lasaco Assurance fell 7.69% to N1.20.
A review of the performance of the top five market sectors gave a true picture of the scale of the market, with the energy, insurance and banking sectors losing 2.00%, 1.15% and 0.39. % each, while consumer goods and industry Goods counters closed flat.
However, the All-Share Index (ASI) rose 47.84 points to close at 38,968.34 points from the previous day’s 38,920.50 points, while market capitalization increased by N25 billion. to settle at 20,303 trillion na against 20,278 trillion na ended Tuesday.
On the activity chart, it was mixed in the midweek session, as the value of trade rose 58.27 percent to 3 trillion naira from 1.9 billion naira, while the Trade volume decreased 38.11 percent to 141.4 million units from 228.5 million units, the number of transactions fell 8.80% to 3,079 transactions from 3,376 transactions.
Universal Insurance was the most active share with the sale of 18.0 million units worth N3.6 million, Zenith Bank sold 9.7 million units worth N229.4 million, United Capital processed 9.3 million units worth N76.2 million, Transcorp traded 9.1 million units valued at 8.3 million naira, while Access Bank traded 9 .0 million units against 83.8 million naira.