THE Nigerian Equities market begins a new month with 0.56 percent gain as All Share Index (ASI) and Market capitalisation closed higher at 36,887.20 basis points and N12.828 trillion from 36,680.29 bps and N12.757 trillion respectively.
Market breadth of stocks on the Nigerian Stock Exchange (NSE) also closed in favour of the bears as 23 losers outnumbered 21 gainers.
All sector performance indicators closed positive with the industrial sector leading the frontline as it gained 87 points from previous trading levels to close at 2046.25bps, while ASEM sector remained unchanged at 1162.45bps.
Despite the positive form of the market, trade volume dropped by 3.76 percent to close at 249 million shares while the worth of the traded shares on Wednesday is valued at N5.2 billion, showing a 70.32 percent increase from Tuesday’s close.
Banking stocks made up the top five traded equities on the volume-based chart, as Mobil, Stanbic IBTC, Nigerian Breweries, Guaranty Trust Bank and Zenith Bank topped the value-based chart.
Analyst, however, expects increased market activity in the market with the year drawing further to a close as firms would make an effort to push their positive accounting figures higher.‎
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