Nigerian Exchange Limited Market Capitalisation Expands By ₦286bn

Bullish sentiments resurfaced in the equities market on Wednesday, as investors’ interest in SEPLAT ENERGY PLC and LAFARGE AFRICA PLC. drove the benchmark index higher by 0.48%.

At the close of trading on the floor of the Nigerian Exchange Limited, (NGX), the market capitalisation grew by ₦286 billion naira or 0.48% from ₦59,226 trillion to ₦59,512 trillion naira.

In the same vein, the All-Share Index expanded by 0.48% or 472.43 basis points from 97,702.56 basis points to 98,174.99 basis points.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 27.16% and the total volume of trades declined by 55.8%.

A total of 521.92 million units of shares valued at ₦19.93bn were exchanged in 9,420 deals where TANTALIZERS PLC was the most traded stock by volume at 88.33 million units, while SEPLAT ENERGY PLC was the most traded stock by value at ₦8.03 billion.

Accordingly, the Month-to-Date and Year-to-Date returns improved to +0.7% and +31.3%, respectively.

As measured by market breadth, market sentiment was positive with 42 advancing issues outnumbering 21 declining ones.

GOLDEN GUINEA BREW. PLC. (+9.83%), THOMAS WYATT NIG. PLC. (+9.83%) and FTN COCOA PROCESSORS PLC (+9.50%) were the top three gainers of the day, while SUNU ASSURANCES NIGERIA PLC. (-9.85%), LEARN AFRICA PLC (-9.85%) and HALDANE MCCALL PLC (-9.15%) recorded the highest losses of the day.

Analyzing by sectors, the Oil & Gas (+3.2%), Insurance (+1.6%), and Industrial Goods (+0.8%) advanced, while the Consumer Goods (-0.2%) and Banking (-0.1%) indices declined.

Olusola Akintonde