Staff Writer
At the close of trading on Wednesday, Honeywell Flour Mill and Eterna Oil headed the gainers’ list as the All-Share Index of the Nigerian Exchange Limited slightly declined to close at 63,757.23 base points from 63,766.72 registered on Tuesday.
This occurred the day after Honeywell Flour Mills’ request for N72.2 billion in damages from Ecobank Nigeria was approved by the Federal High Court in Lagos.
A number of accusations and denials made by Honeywell Flour Mills and Ecobank led to the legal conflict.
The market cap decreased by N5 billion at the close of trading from N34.721 trillion on Tuesday to N34.716 trillion.
On the NGX floor, 7,403 deals totaling 473,492,114 million shares valued over N10.081 billion were executed. Year-to-date returns were 24.40% at the time of writing.
The number of winners and losers on the Exchange, with 27 equities recording losses and 24 stocks posting gains, highlighted the struggle between the bulls and bears for dominance.
Profit-taking occurred in Geregu (-10.00%), Zenith Bank (-1.68%), Wapco (-1.03%), Accesscorp (-0.60%), and FBNH (-0.56%) as a result of certain investors making money off their positions in select bellwether shares.
On the other hand, the price of Honeywell’s shares increased (by +100%). Eterna (+9.98%), PZ (+8.99%), NB (+4.47%%), MTNN (+1.85%), and GTCO (+0.87%) are some of the other big gainers.
The NGX Insurance, NGX Consumer Goods, and NGX Oil/Gas indices all saw declines of 0.52 percent, 0.48 percent, and 0.62 percent, respectively, while the NGX Banking and NGX Industrial indices saw gains of 2.05 percent and 0.06 percent, respectively. In terms of sectoral performances, three of the five sub-sector gauges tracked closed in the green.
JapaulGold was the most actively traded stock in terms of volume, with 355 transactions involving 77.98 million shares worth N64.59 million.
