By Chinwendu Obienyi
The Nigerian Exchange Group (NGX) kick-off its new trading session in June on a positive note as its volume of share transactions rose by 39.4 per cent.
This came as investors took profit in the highly capitalised stocks, leading to a 0.06 per cent drop in the market’s All-Share Index (ASI) while market capitalisation fell by N12.3 billion to close at 38,414.37 points and N20.022 trillion.
Analysis of the market revealed that volume and value of stocks traded rose 39.4 and 26.2 per cent to 274.9 million units and N2.6 billion respectively, exchanged in 4,159 deals. UCAP was the most active stock with the sale of 23.97 million units valued at N14.36 million, Veritas Kapital traded 23.11 million units worth N46.23 million while Eterna sold 21.57 million units valued at N16.3 million.
Across sectors, performance was bearish as 4 indices lost, 1 gained and 1 Closed Flat. The Oil & Gas and Consumer Goods indices fell 0.9 and 0.3 per cent respectively, following price depreciation in Seplat (-1.2 per cent) and Honeywell flour (-6.6 per cent).
Similarly, the Banking and Industrial Goods indices declined 0.1 per cent apiece, due to sell-offs in Zenith Bank (-0.7 per cent) and Wapco (-0.9 per cent). Conversely, the Insurance index rose 1.5 per cent on the back of buying interest in Wapic (+9.4 per cent). However, the AFRI-ICT index closed flat.