At the Nigerian Exchange Limited (NGX) on Thursday, the domestic stock market recorded a positive performance to halt two days of a lull as the All Share Index (ASI) rose by 0.16 per cent to settle at 52,290.75 basis points.
Bullish sentiment in telco heavyweight, MTN Nigeria Communication, alongside Guaranty Trust Holding Company and Lafarge Africa drove the market’s rebound as the share prices of these companies appreciated by 0.22 per cent, 4.12 per cent and 0.42 per cent, respectively.
Consequently, the Month-to-Date loss moderated to -0.2 per cent, while the Year-to-Date gain increased to +2.0 per cent.
Equities investors, therefore, gained N45.18 billion cumulatively as the market capitalization settled at N28.47 trillion by the end of trading activities at the local bourse on Thursday.
As measured by market breadth, market sentiment was positive, as 32 tickers recorded gains relative to 18 losers.
On the performance board, Mutual Benefits and NEM Insurance recorded the most significant gains of the day having appreciated in share value by 10.0 per cent and 9.6 per cent, respectively; while Linkage Assurance and McNicholas topped the losers’ list with 9.4 per cent and 8.9 per cent loss recorded against their respective share prices.
Sectorial performance was also positive, as four of the five indices tracked closed in the green zone, save for the NGX Consumer Goods index, which fell by 0.29 per cent. The NGX Banking, NGX Insurance, NGX Oil/Gas, and NGX Industrial indices rose by 0.76 per cent, 2.08 per cent, 0.78 per cent, and 0.02 per cent, respectively.
Bullish sentiments cut across as activities on the Exchange for the day under review were impressive as analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions down by 39.36 per cent. A total of 1.27 billion shares valued at N7.01 billion were exchanged in 5,963 deals.
Transnational Corporation led the volume chart with 811.20 million units traded while Access Corporation led the value chart in deals worth N2.35 billion.
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