The Nigerian equities market continued its bullish run, however, marginally on Wednesday as the benchmark index appreciated by 0.01 per cent.
At the Nigerian Exchange Limited (NGX), equities trading advanced marginally as buying interest in Transnational Corporation and Dangote Sugar triggered a basis point expansion in the All-Share Index to 65,492.92 basis points.
Accordingly, the Month-to-Date and Year-to-Date returns printed +1.8 per cent and +27.8 per cent, respectively.
The market capitalisation of the local bourse also closed higher by 0.01 per cent to close at N35.84 trillion as investors gained N2.27 billion cumulatively.
However, as measured by market breadth, market sentiment was negative as 22 tickers lost relative to 26 gainers. On the performance board, Conoil and Daar Communication topped the losers’ list having dipped in share prices bt 10.0 per cent and 9.4 per cent, respectively; while ABC Transport recorded the most significant gains of the day after their respective share prices appreciated by 9.6 per cent and 9.3 per cent.
Sectorial performance was mixed, with the NGX Insurance and NGX Consumer Goods indices experiencing gains of 0.39 per cent and 0.40 per cent, respectively, while the NGX Banking and NGX Oil/Gas registered declines of 0.68 per cent and 1.66 per cent, respectively. The NGX Industrial Index remained unchanged.
Analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 1.80 per cent. A total of 348.32 million shares valued at N4.05 billion were exchanged in 6,237 deals.
Transnational Corporation led the volume and value charts with 144.71 million units traded in deals worth N682.61 million.
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