Equities investors gain N4.4bn on marginal growth

Equities trading on the Nigerian Stock Exchange (NSE) recorded a marginal gain by 0.3 per cent, on Wednesday, following investors’ interests in banking stocks.

Thus, the All-Share Index (ASI) rose marginally by 0.03 per cent to close at 30,741.88 points, just as investors gain N4.4 billion as the market capitalisation increased to N16.07 trillion.

Accordingly, Month-to-Date return and Year-to-Date gain were unchanged at 0.7 per cent and 14.5 per cent, respectively.

Market sentiment, as measured by market breadth, was also positive as 12 tickers gained, relative to 11 losers. CHI Plc led the gainer’s chart having appreciated by 8.8 per cent, followed by Prestige Insurance that increased its share value by 7.4 per cent.

On the flip side, Mutual Benefit and Wema Bank recorded the largest losses of the day after depreciating by 4.8 per cent and 3.1 per cent.

Of the five indices tracked, three closed in the green while the rest closed flat on Wednesday.

The NSE Insurance, NSE Consumer Goods and NSE Industrial indices rose by 1.04 per cent, 0.05 per cent and 0.03 per cent respectively while the NSE Banking and NSE Oil/Gas closed flat.

Activity at the local bourse waned on Wednesday as the total volumes traded decreased by 14.8 per cent to 286.45 million units, valued at N3.09 billion and exchanged in 2,889 deals.

Access Bank stocks was the toast of investors for the day as it was the most traded stock by volume and value at 145.01 million units and N1.17 billion, respectively.

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Equities investors gain N4.4bn on marginal growth