At the Nigerian Exchange Limited (NGX), equities trading maintained a bullish run for the fourth consecutive session as the benchmark index rose above the 70,000 psychological mark, having been inclined by 1.94 per cent, and closed at 70,581.76 basis points, the highest level on record.
Thus, the year-to-date return advanced to +37.7 per cent.
Sustained gains in index heavyweight Airtel Africa, alongside Tier-1 banks Zenith Bank and Guaranty Trust Holding Company, drove the market’s strong performance, having appreciated in share value by 10.0 percent, 3.77 per cent, and 1.72 per cent, respectively.
As a result of the bullish trading outing on Wednesday, equities investors gained N739.26 billion cumulatively as the market capitalization settled at N38.78 trillion.
As measured by market breadth, market sentiment was positive, as 37 tickers gained relative to 15 losers. On the performance board, Airtel Africa and Chams recorded the most significant gains of the day after their respective share prices appreciated by 10.0 per cent and 9.9 per cent, respectively, while Caverton and Champion Breweries topped the losers’ list, having declined in share value by 7.7 per cent and 6.9 per cent, respectively.
Analysing by sector, the Insurance and Banking indices recorded gains of 3.7 per cent and 2.2 per cent, respectively, while the Industrial Goods and Oil & Gas indices closed flat. The Consumer Goods Index was the sole loser of the day.
Activities at the local bourse during 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 up by 82.25 per cent.
A total of 601.73 million shares valued at N11.02 billion were exchanged in 7,444 deals.
The United Bank for Africa led the volume and value charts with 163.56 million units traded in deals worth N3.47 billion.
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