‘Rising by 66.83’ Vitafoam improves by over 5% as NGX trading indices sustain growth

The trading indices of the Nigerian Exchange (NGX) Limited further appreciated on Friday by 0.15 per cent on sustained bargain-hunting.

At the close of business, the All-Share Index (ASI) rose by 66.83 points to 45,957.35 points from 45,890.52 points, while the market capitalisation expanded by N36 billion to N24.761 trillion from N24.725 trillion.

During the session, the banking space lost 0.11 per cent, while the industrial goods sector closed flat, with the energy, insurance and consumer goods counters growing by 2.55 per cent, 0.43 per cent and 0.33 per cent respectively.

Unlike the preceding session, trading activities were low yesterday with the trading volume, value and number of deals waning by 67.76 per cent, 92.25 per cent and 13.89 per cent respectively.

A total of 281.6 million shares worth N2.4 billion exchanged hands in 3,739 deals on Friday compared with the 873.5 million shares worth N31.5 billion transacted in 4,342 deals on Thursday.

Transcorp finished the day as the most traded stock with 35.7 million units sold for N38.1 million, followed by Courtville with 31.8 million units sold for N14.4 million.

Sovereign Trust Insurance transacted 26.4 million equities valued at N6.1 million, Access Bank exchanged 22.2 million stocks for N216.9 million, while FBN Holdings traded 18.4 million shares worth N220.2 million.

Business Post reports that investor sentiment remained relatively strong yesterday as the market breadth closed positive with 21 price gainers and 14 price losers.

For the second straight session, Northern Nigerian Flour Mills (NNFM) closed as the best-performing stock with a price appreciation of 9.72 per cent to trade at N7.90.

Courtville gained 9.52 per cent to sell for 46 kobo, Vitafoam improved by 5.46 per cent to N22.20, FTN Cocoa rose by 5.41 per cent to 39 kobo, while Seplat grew by 4.86 per cent to N755.10.

The worst-performing stock was Regency Assurance because of the 4.55 per cent loss it posted at the exchange on Friday, closing at 42 kobo.

Sovereign Trust Insurance lost 4.00 per cent to trade at 24 kobo, Sunu Assurances depreciated by 3.13 per cent to 31 kobo, Honeywell Flour fell by 3.03 per cent to N3.20, while Custodian Investment dropped 2.76 per cent to N7.05.

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