Though slightly less than the 0.17 percent it lost on Wednesday, The Nigerian Exchange (NGX) Limited recovered by 0.16 percent on Thursday.
As Ardova, which intends to leave the stock exchange soon, informed the investing community of the court’s approval to convey a meeting of shareholders to discuss the purchase of shares from minority investors, the growth posted by domestic stocks yesterday was boosted by buying interest in Ardova.
The energy company’s shares are in high demand as a result, and after the conclusion of business, they were among the 32 price gainers. A negative market breadth and a high level of investor confidence were indicated by the final placement of 18 stocks on the losers’ chart.
Mutual Benefits increased by 10% to 33 Kobo, NEM Insurance climbed by 9.6% to N4.55, CWG increased by 9.9% to N1.20, Ardova increased by 8% to N19.85, and Prestige Assurance increased by 8% to 39 Kobo.
However, Red Star Express declined by 8.73% to N2.30, University Press declined by 8.29% to N1.66, and Champion Breweries decreased by 7.62% to N4.00. Linkage Assurance lost 9.43% to settle at 48 Kobo. McNichols lost 8.86% to settle at 72 Kobo.
According to Business Post, the insurance sector increased by 2.08% on Thursday, while the energy, banking, and industrial goods sectors all had gains of 0.78%, 0.76%, and 0.02%, respectively. In contrast, the consumer goods sector experienced a 0.290% decline.
The market capitalization increased by N46 billion to N28.473 trillion from N28.427 trillion at the end of trading, while the All-Share Index (ASI) increased by 82.98 points to 52,290.75 points from 52,207.77 points.
In contrast to the 670.1 million shares worth N5.0 billion exchanged in the midweek session in 6,254 deals, investors traded 1.3 billion shares worth N7.0 billion in 5,963 deals yesterday. This represents a decrease in the number of deals by 4.65 percent and an improvement in the trading volume and value by 89.55 percent and 40.00 percent, respectively.
Transcorp sold 811.2 million shares for N2 billion, Access Holdings sold 219.4 million shares for N2.4 billion, Chams sold 31.0 million shares for N10 million, Zenith Bank sold 24.9 million shares for N597.3 million, and Fidelity Bank traded 24.3 million shares for N137.7 million.
