Trading of equities on the floor of the Nigerian Exchange Limited, NGX, closed on Wednesday With bullish sentiments.
Consequently, the All-Share Index grew by 283.27 basis points or 0.55% to 51,729.87 basis points from 51,446.60 basis points obtained in the previous session.
Similarly, the market capitalisation gained 0.55% or ₦154bn to close at ₦28,176 trn from yesterday’s ₦28,022trn.
This positive close is being attributed to bargain hunting in BUA CEMENT PLC (+3.6%) alongside Tier-1 banking names, ZENITH BANK PLC (+0.21%), GUARANTY TRUST HOLDING COMPANY PLC (+1.48%) and FBN HOLDINGS PLC (+0.45%).
Analysis of today’s market activities showed that a total 281.94 million units of shares, valued at ₦8.16 billion, were exchanged in 3,679 deals.
FBN HOLDINGS PLC was the most traded stock by volume by 108.93 million units of shares, while BUA CEMENT PLC was the most traded stock by value at ₦4.07billion.
As measured by market breadth, market sentiment was positive 26 stocks gaining, relative to 12 losers.
The three top gainers of the day are;
1 THOMAS WYATT NIG. PLC. grew by 0.11k or 9.48% to close at ₦1.27k per share on Wednesday when compared to yesterday’s closing of ₦1.16k per share.
2. CHAMPION BREW. PLC followed with an increase of 0.41k or 9.45% from ₦4.34k per share to ₦4.75k per share.
3 And FTN COCOA PROCESSORS PLC. advanced from 0.26k per share to 0.28k per share, by 0.02k or 7.69%.
Conversely however, CHELLARAMS PLC led the losers when it dropped from ₦1.82k per share to ₦1.64k per share, losing 0.18k or 9.89%.
Next is ROYAL EXCHANGE PLC, falling from ₦1.08k per share to ₦1.00 per share, shedding off 0.08k or 7.41%.
While, CORONATION INSURANCE PLC declined from 0.45k per share to 0.42k per share by 0.03k or 6.67%.
On sectoral performance, the Industrial Goods (+1.5%), Banking (+1.1%), and Consumer Goods (+0.2%) indices recorded gains, while the Insurance (-0.7%) index closed in the red. The Oil & Gas index closed flat.
