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OTC Exchange Rises N14.21 Billion as NDEP and 2 Others Appreciate

OTC Exchange Rises N14.21 Billion as NDEP and 2 Others Appreciate

 


By Dipo The best of Dipo

The return of interim dividend hunters to the market pushed the Nigerian Exchange (NGX) Limited further up 0.02% as trading closed on Friday.

This was the first trading session of the new month of July 2022 and investors are awaiting half-year results from listed companies, especially those in the banking sector, Tier 1 in particular, which typically declare interim dividends.

Business post observed that there was buying interest in Access Holdings and Zenith Bank, although GTCO and UBA came under selling pressure, which drove their share prices lower.

But when the market closed for the session, the All-Share Index (ASI) was up 12.08 points as it finished at 51,829.67 points from 51,817.59 points the previous day.

In the same vein, the total value of shares on the platform increased by 7 billion naira to reach 27.942 trillion naira from the 27.935 trillion naira closed a day earlier.

Investor sentiment remained positive as there were 16 declining stocks and 20 rising stocks, led by The Initiates, which rose 10.00% to 44 Kobo. Cutix was up 9.78% to N2.47, Linkage Assurance was up 9.62% to 57 Kobo, John Holt was up 9.33% to 82 Kobo, while Caverton was up 8.82% to sell for N1.11.

On the other hand, Courteville was down 7.84% to trade at 47 Kobo, NAHCO was down 5.88% at N8.00, Cadbury Nigeria was down 5.51% at N16.30, Neimeth was down 3.87% to N1.49, while UPDC fell 3.74% to N1.03.

The market was relatively calm yesterday, with investors trading just 127.0 million shares worth N1.7 billion in 3,718 trades, compared to 223.1 million shares worth 3.9 billion naira traded in 4,213 transactions on Thursday, indicating a drop in the volume, value and number of transactions. transactions of 43.06%, 55.93% and 11.75% respectively.

GTCO was the most active stock as it traded 23.5 million units worth N480.3 million, UBA sold 22.2 million units for N165.6 million , Sterling Bank traded 7.4 million units worth N11.1 million, Oando traded 7.3 million units worth N40.1. million, while FBN Holdings traded 6.0 million units worth N67.5 million.

During the session, the insurance space increased by 1.23%, the banking ecosystem widened by 0.36%, the industrial goods sector appreciated by 0.04%, while energy and consumer goods meters depreciated by 0.39% and 0.01%.

Sources

1/ https://Google.com/

2/ https://businesspost.ng/economy/otc-exchange-rises-n14-21bn-as-ndep-2-others-appreciate/

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