The Nigerian equities market ended Wednesday’s trading with bullish sentiments marking its first gain for the week, even as the benchmark Index rose by 1.23%.
Today’s positive performance was largely due to investor’s interest in DANGOTE CEMENT PLC (+8.84%) which offset losses in MTN NIGERIA COMMUNICATIONS PLC(-0.46%) and ZENITH BANK PLC (-0.25%).
Thus, the All-Share Index closed at 44,283.02 basis points, 537.29 basis points or 1.23% higher than Tuesday’s closing of 43,745.73 basis points, while the market capitalisation gained ₦293bn or 1.23% to close at ₦24.120trn from ₦23,827trn.
A total of 155.41million units of shares valued at ₦1.53bn were exchanged in 3,796 deals as STERLING BANK PLC. (-2.11%) led the volume chart with 24.28million units of shares traded while MTN NIGERIA COMMUNICATIONS PLC(-0.46%) led the value chart in deals worth ₦238.86m.
As measured by market breadth, market sentiment was negative as 23 stocks lost relative to 9 gainers.
MRS OIL NIGERIA PLC (-9.65%) and TRANS-NATIONWIDE EXPRESS PLC (-9.33%) recorded the most significant losses of the day, while DANGOTE CEMENT PLC (+8.84%) and CHAMS HOLDING COMPANY PLC (+4.35%) topped the gainers’ list.
Analysing sectors under our coverage, the Insurance (-1.1%), Banking (-0.9%), and Consumer Goods (-0.2%) indices recorded losses, while the Industrial Goods (+4.0%) and Oil & Gas (-0.2%) indices posted gains.
