Nigerian equities market posted a 0.05 percent rebound on Thursday to close at 98,169.30 basis points.
Gains in telco heavyweight MTN Nigeria Communication alongside Transcorp Hotel and United Bank for Africa drove the market’s positive recovery as these high-cap stocks appreciated by 0.20 percent. 9.75 percent and 0.44 percent, respectively.
Thus, the All Share Index of the Nigerian Exchange Limited closed at 98,169.30 basis points, as the Month-to-Date (MTD) and Year-to-Date ( YTD) returns printed -6.1 percent and +31.3 percent, respectively.
Due to the slightly bullish trade at the local bourse, equities investors earned N26.64 billion cumulatively as the market capitalization closed higher at N55.52 trillion.
As measured by market breadth, market sentiment was negative as 23 tickers lost relative to 16 gainers. On the performance board, Sterling Financial Holdings and CWG recorded the most significant losses of the day after their respective share prices dropped by 9.7 percent and 9.6 percent, while Transcorp Hotel and Livestock topped the gainers’ list having appreciated in share value by 9.8 percent and 9.4 percent, respectively.
Sectoral performance was mixed, with the Banking and Consumer Goods indexes declining by 1.10 percent and 0.05 percent, while the Insurance index gained 0.88 percent. The Oil/Gas and Industrial Goods indexes remained unchanged. Zenith Bank emerged as the most traded security by volume and value, with 48.49 million units valued at N1.77 billion exchanged in 577 deals.
Analysis of market activities for the day under review showed trade turnover settled lower relative to the previous session, with the value of transactions down by 31.95 percent. A total of 297.20 million shares valued at N6.52 billion were exchanged in 7,417 deals. Zenith Bank led the volume and value chart with 48.49 million units traded in deals worth N1.77 billion.
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