Equities on the floor of the Nigerian Exchange Limited, NGX on Wednesday added to Tuesday’s gain by 0.25%.
The Market Capitalisation appreciated from ₦38.941trn to ₦39.054trn, gaining ₦113bn while the All-Share Index climbed 173.62 basis points to settle at 71,014.34 basis points from 70,840.72 basis points.
Consequently, the All-Share Index Month-to-Date and Year-to-Date returns advanced to +2.6% and +38.56%, respectively.
Today’s gains are attributed to MTN NIGERIA COMMUNICATIONS PLC (+0.21%), BUA CEMENT PLC (+1.96%) and GUARANTY TRUST HOLDING COMPANY PLC (+1.93%) outweighed losses in ZENITH BANK PLC (-1.89%), DANGOTE SUGAR REFINERY PLC(-0.16%) and UNITED BANK FOR AFRICA PLC (-0.48%).
At the close of trading, investors traded a total of 297.35 million units of shares valued at ₦6.16bn were exchanged in 6,172 deals, showing that the value of transactions went up by 82.89% while the total volume traded decreased by 9.2%.
OANDO PLC was the most traded stock by volume at 27.97 million units, while NESTLE NIGERIA PLC was the most traded stock by value at ₦2.34 billion.
As measured by market breadth, market sentiment was positive as 39 stocks gained relative to 19 losers.
The top three gainers for the day are OANDO PLC with a ₦1.05k or 10.00% increase in selling price. Followed by OMATEK VENTURES PLC gaining 0.07k or 10.00% and MECURE INDUSTRIES PLC 0.47k or 9.92%.
While on the flip side, S C O A NIG. PLC, SOVEREIGN TRUST INSURANCE PLC and CORNERSTONE INSURANCE PLC led the losers chart by 0.12k or 9.68%, 0.03k or 8.82% and 0.07k or 4.83%.
Across sectors, performance varied with gains in the Industrial Goods (+0.8%) and Consumer Goods (+0.1%) indices and declines in the Insurance (-0.8%) and Banking (-0.8%) indices. The Oil & Gas index closed flat.
