Proceedings at the Nigerian Exchange Limited (NGX) opened the new month on a positive note as the market’s benchmark index gained 0.11 per cent to settle at 49,889.88 points.
The gain puts the index on track for its second consecutive weekly gain since August 19.
Furthermore, the gain recorded was due to investors’ interest in BUA Cement, UBA, Fidelity Bank and AccessCorp. As a result, the ASI’s year-to-date (YTD) return rose to 16.79 per cent, while the market capitalisation gained N29 billion to close at N26.908 trillion.
At the close of trading yesterday, trade turnover settled lower relative to the previous session, with the value of transactions down by 37.63 per cent as a total of 229.12 million shares valued at N1.75 billion were exchanged in 3,575 deals.
The financial sub-sector drove the activity in volume of shares as Sterling Bank traded about 109 million shares valued at 15.98 million. GTCO sold 34.25 million shares valued at 68.04 million while Fidelity Bank transacted over 15.55 million shares valued at N50.59 million.
Investors’ interest in stocks increased as 14 stocks appreciated while 12 stocks depreciated in value. Pharmdeko topped the gainers’chart with 7.43 per cent to close at N1.88 per share, Chip Plc followed with 5 per cent to close at 0.63 kobo, UPDC increased by 5 per cent to close at N1.05, FCMB garnered 4.92 per cent to close at N3.20 while Fidelity Bank gained 4.39 per cent to close at N3.33.