Specifically, the All-Share Index appreciated by 714.28 basis points or 0.72% from 99,266.02 basis points to close today at 99,980.30 basis points.
The Market Capitalisation also increased by 0.72% or 390 billion Naira to settle at 54,707 trillion Naira from yesterday’s 54,317 trillion Naira.
The positive close for today was due to investors interest in tier-1 banking names; GUARANTY TRUST HOLDING COMPANY PLC (+10.00%), ZENITH BANK PLC (+7.86%) and FBN HOLDINGS PLC (+1.27%), which outweighed the losses in NESTLE NIGERIA PLC. (-9.09%), TRANSNATIONAL CORPORATION PLC (-0.08%), and STANBIC IBTC HOLDINGS PLC (-0.45%).
As a result, the Month-to-Date and Year-to-Date returns printed -1.2% and +33.7%, respectively.
Analysis of today’s market activities showed that the value of transactions rose by 49.27% even as the total volume traded advanced by 37.0%.
Thus, a total of 542.95m shares valued at ₦8.70bn were exchanged in 9,650 deals with UNITED BANK FOR AFRICA PLC being the most traded stock by volume and value at 93.71 million units and NGN2.07 billion, respectively.
As measured by market breadth, market sentiment was positive, with 37 advancing issues outnumbering 19 declining ones.
GUARANTY TRUST HOLDING COMPANY PLC (+10.0%) and UNITED BANK FOR AFRICA PLC (+10.0%) recorded the highest gains of the day, while SUNU ASSURANCES NIGERIA PLC. (-10.0%) and ETERNA PLC (-9.8%) topped the laggard list.
From a sectoral perspective, the Banking (+6.1%) and Insurance (+1.3%) indices recorded gains, while the Oil & Gas (-0.3%) and Consumer Goods (-0.2%) indices settled lower. Meanwhile, the Industrial Goods index closed flat.
