NGX Records 3rd Consecutive Bullish Close as Equities Gain 0.55%
Salamatu Ejembi, Lagos
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The equities market has for the third consecutive trading session for this week, sustained a bullish sentiment on the floor of the Nigerian Exchange Limited, NGX.
At the close of transactions on Wednesday, the benchmark index gained 0.55% to close at 72,299.79 basis points while market capitalisation gained ₦214.80bn to close at ₦39.56trn.
Accordingly, the Month-to-Date and Year-to-Date returns increased to +1.3% and +41.07%, respectively.
Today’s positive performance was underpinned by bargain-hunting in Tier 1 banks namely; ACCESS HOLDINGS PLC (+8.1%), FBN HOLDINGS PLC (+5.0%), ZENITH BANK PLC (+2.54%), GUARANTY TRUST HOLDING COMPANY PLC (+1.01%) and UNITED BANK FOR AFRICA PLC(+3.45%).
These gains offset losses in DANGOTE SUGAR REFINERY PLC (-0.61%), FLOUR MILLS NIG. PLC. (-4.57%) and UNILEVER NIGERIA PLC (-2.01%).
The total volume traded advanced by 35.6% with the value of transactions up by 37.40% even as a total of 433.18m shares valued at ₦8.08bn were exchanged in 6,650 deals.
ACCESS HOLDINGS PLC was the most traded stock by volume at 60.18 million units of shares traded while GUARANTY TRUST HOLDING COMPANY PLC was the most traded stock by value at ₦1.96 billion.
S C O A NIG. PLC (+9.88%) and INFINITY TRUST MORTGAGE BANK PLC (+9.86%) recorded the most significant gains of the day, while UNIVERSITY PRESS PLC. (-9.82%) and SUNU ASSURANCES NIGERIA PLC (-9.38%) topped the losers’ list.
Analysing by sectors, the Banking (+3.4%) and Insurance (+0.9%) indices recorded gains while the Oil & Gas (-0.2%) and Consumer Goods (-0.2%) indices printed losses. Meanwhile, the Industrial Goods index closed flat.
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