Trading activity on the Nigerian Exchange Limited (NGX) rebounded as the volume of shares traded jumped by 161.79 per cent to 1.4 billion units, while the market capitalisation increased by N100 billion.
The All-Share Index rose by 155.03 points, representing a 0.06 per cent gain, to close at 242,378.13 points. Similarly, the total market capitalisation climbed to N157.150 trillion from its previous position, reflecting a N100 billion increase.
The positive performance was supported by gains recorded in several large- and medium-capitalised companies, including Seplat Energy, Nigerian Exchange Group, Guaranty Trust Holding Company (GTCO), Access Holdings and Transnational Corporation (Transcorp).
However, Cowry Assets Management Limited expects selling pressure to return as investors continue to reduce their holdings in the insurance and banking sectors ahead of the Dangote Refinery IPO scheduled to begin in the coming week.
The market recorded a negative breadth, with 23 stocks appreciating against 29 decliners.
Seplat Energy emerged as the biggest gainer after its share price rose by 10 per cent to N14,907.80. Japaul Gold & Ventures gained 9.83 per cent to close at N2.57, while Tantalizer increased by 8.29 per cent to N3.79 per share.
Secure Electronic Technology rose by 7.94 per cent to close at 68 kobo, while Access Holdings appreciated by 5.66 per cent to N28.00 per share.
On the losing side, R.T. Briscoe and Aradel Holdings recorded the largest declines, falling by 10 per cent each to close at N8.10 and N1,413.00 respectively.
Champion Breweries declined by 9.91 per cent to N10.00, while International Breweries shed 9.80 per cent to close at N9.20. CWG also dropped by 9.28 per cent to N17.60 per share.
Trading volume rose sharply by 161.8 per cent to 1.40 billion shares, with the transactions valued at N27.14 billion across 46,218 deals.
Fortis Global Insurance dominated trading activity with 1.031 billion shares worth N1.494 billion changing hands.
Mutual Benefits Assurance followed with 59.555 million shares valued at N167.812 million, while Access Holdings recorded 28.570 million shares worth N791.714 million.
GTCO traded 25.736 million shares valued at N3.334 billion, while Zenith Bank recorded transactions involving 14.318 million shares worth N1.779 billion.
Source: Provided report
