The Nigerian Exchange Limited (NGX) extended its winning streak for the third consecutive trading session, on Wednesday, as the benchmark index closed 0.34 per cent stronger to close at 47,367.31 basis points.
The bulls at the local bourse was largely due to continuous demand for MTN Nigeria shares, as well as Guaranty Trust Holding Company, United Bank for Africa and FBN Holdings as their respective shares appreciated by 3.17 per cent, 2.50 per cent, 2.20 per cent.
Consequently, the Month-to-Date and Year-to-Date returns increased to +0.9 per cent and +10.9 per cent, respectively.
Equities investors, therefore, earned added N87.48 billion into their investment as the market capitalisation settled at N25.54 trillion at the close of trading activities on Wednesday.
As measured by market breadth, market sentiment was positive as 30 tickers gained relative to 15 losers. Meyer and Ikeja Hotel recorded the highest gains of the day having appreciated in value by 9.6 per cent and 9.2 per cent respectively, while Sterling Bank and Unilever topped the losers’ list after their respective value depreciated by 6.0 per cent and 4.5 per cent.
Given the northward movement in the benchmark index, performance across sub-indices came in positive except for the NGX Insurance Index which fell by 0.18 per cent . The NGX Banking Index, NGX Consumer Goods Index and the NGX Oil/ Gas Index rose by 0.56 per cent, 0.03 per cent and 0.03 per cent respectively. The NGX Industrial Index remained unchanged.
Analysis of the market activities for the day showed trade turnover settled higher relative to the previous session, with the value of transactions advancing by 117.27 per cent.
Specifically, a total of 391.89 million shares valued at N9.95 billion were exchanged in 5,419 deals.
Guaranty Trust Holding Company maintained investors interest as it led the volume chart for the third consecutive session with 65.89 million units traded, while MTN Nigeria led the value chart in deals worth N4.83 billion.
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