On Wednesday, equities trading at the Nigerian Exchange Limited (NGX) edged higher for the sixth consecutive session as the benchmark index added another basis points gain to close at 48,571.75 basis points.
Gains recorded in BUA Cement and Guinness Nigeria by 1.0 per cent and 7.5 per cent ensured the market closed higher amid profit-taking on some banking names such as Zenith Bank, FBN Holdings, Guaranty Trust Holding Company and Access Holdings Corporation, whose share values dipped by 2.6 per cent, 2.1 per cent, 1.2 per cent and 0.51 per cent, respectively.
Consequently, the Month-to-Date (MtD) and Year-to-Date (YtD) returns remained unchanged at +3.4 per cent and +13.7 per cent, respectively.
Therefore, equities investors earned N1.71 billion at the end of the trading session on Wednesday as the market capitalisation settled at N26.19 trillion.
Market breadth closed negative with declining issues outnumbering advancing ones. Ikeja Hotel led 22 others on the laggard’s table having notched 9.68 per cent from its share value, while Academy Press topped 17 others on the gainer’s log as its share price appreciated by 9.92 per cent.
On sector performance, the Consumer Goods and Industrial Goods indices recorded gains of 0.7 per cent and 0.4 per cent respectively, while the Banking, Insurance, and Oil & Gas indices declined by 1.5 per cent, 0.9 per cent and 0.7 per cent respectively.
However, analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions declining by 66.89 per cent. A total of 246.70 million shares valued at N2.32 billion were exchanged in 5,033 deals.
Multiverse led the volume chart with 36.24 million units traded, while Wapco led the value chart in deals worth N392.65 million.
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