All Share Index of the domestic equities market further advanced by 0.18 per cent to 25,460 basis points amid sustained bargain hunting activity on Wednesday.
Investors on the Nigerian Stock Exchange (NSE) gained N3.89 billion as the market capitalisation closed uptick at N13.282 trillion as against previous day close of N13.258 trillion. Thus the year to date loss of the NSE ASI lowered to 5.1 per cent.
Performance, as measured by market breadth, was positive as the Exchange posted 18 gainers as against 11 losers at the close of the trading session.
Specifically, investors interest in Nigerian Breweries, Stanbic IBTC Holdings, Zenith Bank and BUA Cement lifted their respective share prices by 2.56 per cent, 2.74 per cent, 0.59 per cent and 0.25 per cent.
However, on the sector’s board, the performance was mixed as only the NSE Banking and NSE Consumer Goods indices rose by 0.36 per cent and 0.55 per cent. On the other side, the NSE Insurance and NSE Oil/Gas indices moderated by 1.08 per cent and 0.19 per cent respectively while the NSE Industrial closed flat.
Meanwhile, market activity was weak as the total volume of trades declined by 83.1 per cent to 181.32 million units, valued at N1.12 billion and exchanged in 3,408 deals. Transnational Corporations enjoyed bargaining power as the most traded stock by volume at 26.79 million units while Zenith Bank was the most traded stock by value at N220.67 million.
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