Equities trading extends bullish moments into a new week as the All Share Index (ASI) closed higher at 24,278.07 basis points, 0.8 per cent gain on Wednesday, to complement previous day gain.
Continued demand for Tier 1 bank stocks and WAPCO listed on the Nigerian Stock Exchange (NSE) prompted the biggest gain in the market since 26th June 2020.
Investors gain N94.21 billion as the market capitalization closed at N12.665 trillion. Accordingly, Month-to-Date and Year-to-Date losses moderated to -0.8 per cent and -10.0 per cent, respectively.
Sector performance was broadly positive, as Banking index gained 3.4 per cent, Insurance advanced by 1.1 per cent, while Industrial Goods appreciated by 0.1 per cent. The Consumer Goods and Oil & Gas indices recorded losses with 0.2 per cent decline in value.
Market breadth also closed positive as 25 stocks gained, relative to eight losers. WAPCO and Julius Berger were the top gainers of the day with ten per cent and 9.9 per cent respective growth, while Berger Paints and Caverton recorded the largest losses with 9.6 and 4.4 per cent decline.
The total volume of trades increased by 49.6 per cent to 232.61 million units, valued at N4.70 billion and exchanged in 3,523 deals. Fidelity Bank was the most traded stock by volume at 37.95 million units while MTN Nigeria was the most traded stock by value at N3.22 billion.
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