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By Chinwendu Obienyi
Transactions on the floor of the Nigerian Exchange Limited (NGX) has continued 2022 on a bullish note as investors pocketed a gain of N71 billion at the close of business on Thursday.
The market’s All Share Index (ASI), which opened trading at 43,476.75 points, yesterday closed at 43,607.94 points, representing a 0.30 per cent gain while market capitalisation increased by N71 billion to close at N23.497 billion from N23.426 trillion.
Daily Sun gathered that the positive sentiment in the market was due to jostling in newly listed BUA Foods Plc by investors. The company had earlier on Wednesday, secured an approval from the NGX to list 18 billion ordinary shares of 50 Kobo and gained 30 per cent in three consecutive trading sessions.
According to the market report from the NGX, 24 stocks appreciated in value while 13 others depreciated. BUA Foods led gainers’ chart with 10 per cent to close at N48.40 per share, Academy followed with 9.09 per cent to close at 0.60 per cent.
Meyer rose by 8.70 per cent to close at 0.50 kobo, Regal Insurance added 6.67 per cent to close at 0.48 kobo, while Livestock Feeds garnered 6.22 per cent to close at N2.50.
On the flipside, Sunu Assurance led the losers’ chart with 9.76 per cent to close at 0.37 kobo per share. NEM was next with 7.78 per cent to close at N4.15, FTN Cocoa fell by 7.69 per cent to close at 0.36 kobo, Oando Plc dropped 5.15 per cent to close at N4.60 while Unilever lost 3.45 per cent to close at N14.
FBN Holdings was the most active stock with a sale of 270.92 million shares valued at N307.29 billion. UBA traded 220.26 million shares worth N177.52 million while Transcorp sold 119.96 shares valued at N117.25 million.
Commenting on the performance of the market, analysts at Afrinvest, said, “In the next trading session, we expect the market to sustain its bullish run on improved sentiment”.
