At the Nigerian Exchange (NGX) on Wednesday, equities trading was bullish as the All Share Index (ASI) gained 80 basis points to close at 104,230.73 basis points. Notably, buying interests in MTN Nigeria Communications and First Bank of Nigeria Holdings influenced the overall positive outing as these high-capitalised stocks appreciated by 10 percent and 6.61 percent, respectively.
Consequently, the year-to-date (YTD) return rose to 127 basis points while market capitalisation added N507.28 billion to close at N63.56 trillion. As measured by market breadth, market sentiment was, however, mixed, as 27 tickers gained relative to 27 losers.
On the performance board, MTN Nigeria Communications and Transnational Corporation led the gainers, having appreciated in share value by 10 percent each; while Sunu Assurance and Universal Insurance posted the most significant losses of the day, having depreciated in share value by 10 percent and 9.0 percent, respectively.
Sectoral performance was also mixed, as the Banking and Consumer Goods indices advanced by 0.6 percent and 0.1 percent, respectively, while the Insurance and Oil & Gas indices settled lower by 0.3 percent and 0.1 percent, respectively. The Industrial Goods index remained unchanged.
An 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 31.99 per cent. A total of 756.42 million shares valued at N24.69 billion were exchanged in 13,551 deals.
For the second session in a row, First Bank of Nigeria Holdings led the volume chart with 125.71 million units, while Geregu Power led the value chart with deals worth N11.39 billion.
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