Local equities market extends gains, adds 0.3 per cent

The local bourse extended the previous session’s gains, as the All-Share index of the Nigerian Exchange Limited (NGX) advanced by 0.3 per cent to 39,128.34 basis points.

On Wednesday, investors’ interests in Guaranty Trust Bank and WAPCO drove the performance as they gained 4.2 per cent and 6.8 per cent respectively.

Consequently, the Month-to-Date gain turned positive to 0.3 per cent, while the Year-to-Date loss moderated to -2.8 per cent.

Market sentiment as measured by market breadth was positive as 22 tickers gained, relative to 20 losers.
On the chart, Conoil and Studio Press recorded the most significant gains of the day having appreciated by 10 per cent and 9.9 per cent, while Guinness and Portland Paint topped the losers’ list with respective 9.9 per cent.

Per sector, the analysis indicated that the Banking, Industrial Goods and Oil & Gas indices recorded gains by 2.4 per cent, 0.4 per cent and 0.3 per cent respective, while the Insurance index declined by 1.3 per cent. The Consumer Goods index was however flat.

Activities at the local bourse were however tepid as the total volume of trades decreased by 29.4 per cent to 239.25 million units, valued at N1.66 billion, and exchanged in 3,746 deals.

Access Bank was the most traded stock by volume at 28.18 million units, while Guaranty Trust Bank was the most traded stock by value at N423.11 million.

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Local equities market extends gains, adds 0.3 per cent