Marginal Gain on NGX as ASI hits 0.71%

Salamatu Ejembi, Lagos 

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The Nigerian Exchange Limited, NGX ended Wednesday’s trading session with a marginal gain of 0.71%.
The Market capitalisation upped from ₦25,775 trillion Naira to settle at ₦25,959 trillion Naira, gaining ₦184 billion Naira. While the All-Share Index advanced from 47,322.97 basis points to 47,660.04 basis points by 337.07 basis points.
Today’s activities also marked the the last trading session of the month where investors interest in telecommunications heavyweight MTN NIGERIA COMMUNICATIONS PLC (+3.80%), alongside Tier-1 banking names, ZENITH BANK PLC (+0.92%) and GUARANTY TRUST HOLDING COMPANY PLC  (+0.50%) were the primary drivers of the day’s positive performance.
Analysis of today’s market activities showed that a total of 107.02m shares valued at ₦1.32bn were exchanged in 3,227 deals where FBN HOLDINGS PLC led the volume chart with 12.53m units traded while ZENITH BANK PLC led the value chart in deals worth ₦174.55m.
As measured by market breadth, market sentiment was positive with 21 advancing issues outnumbering 9 declining ones.
WEMA BANK PLC which gained 10.0%, UACN PLC which gained 9.95.0%, and ACADEMY PRESS PLC which gained 9.45% recorded the most significant gains of the day, while ROYAL EXCHANGE PLC which lost 10.0%, RED STAR EXPRESS PLC declining 9.25% and PRESTIGE ASSURANCE PLC which fell by 8.51%, topped the losers’ list.
On sectors, the Consumer Goods (-0.8%) and Insurance (-0.6%) indices printed losses, while the Industrial Goods and Oil & Gas indices closed flat. The Banking (+1.8%) index was the sole gainer of the day.

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