The volume of trading at the stock market soared by 624 per cent yesterday as investors traded 662.021 million valued at N5.312 billion, up from 91.4 million shares worth N960.9 million the first day of the week.
Also, recovery in share prices of bellwether tickers lifted the Nigerian Stock Exchange (NSE) All-Share Index by 0.95 per cent to close at 32,722.18, compared with a decline of 0.14 per cent the previous day. Notably, gains by Dangote Cement Plc, Nigerian Breweries Plc, Unilever Nigeria Plc and Zenith Bank Plc propelled the positive close.
According market operators, there were further selloffs on banking tickers as investors continued to book profit.
“These was however offset by the recovery by the heavily weighted stocks in the consumer goods sector and Dangote Cement, which gained 2.50 per cent,” they said.
However, UACN Property Development Plc led the price gainers with 9.9 per cent, trailed by Cutix Plc with 9.7 per cent. Unilever Nigeria Plc and FBN Holdings Plc garnered 5.5 per cent and 3.3 per cent apiece. Cadbury Nigeria Plc, Nigerian Breweries Plc and Dangote Cement Plc chalked up 3.1 per cent, 3.1 per cent and 2.5 per cent in that order.
Conversely, Beta Glass Plc led the bears, shedding 10 per cent, trailed by Julius Berger Nigeria Plc with 9.8 per cent. Niger Insurance Plc shed 9.0 per cent, just as Japaul Oil & Maritime Services Plc and Universal Insurance Plc went down by 8.7 per cent each.
An analysis of the activity chart showed that GTBank recorded the highest trading in volume terms with 41.8 million shares, followed by Fidelity Bank Plc (20.3 million shares0 and Zenith Bank Plc (17.3 million shares), while Seplat (N2.2 billion), GTBank (N1.5 billion) and Dangote Cement (N0.4 billion) led in value terms.
Meanwhile, three out of five sectors closed positively, led by the NSE Consumer Goods Index with 1.2 per cent. This followed buying interest in Nigerian Breweries Plc and Unilever Nigeria Plc. Similarly, price appreciation in Dangote Cement Plc, Zenith Bank Plc , UBA and Union Bank of Nigeria Plc drove the NSE Industrial Goods Index and NSE Banking Index by 0.2 per cent and 0.1 per cent higher respectively.
Conversely, the NSE Oil & Gas Index and NSE Insurance Index declined 1.3 per cent and 0.5 per cent respectively.