Equities trading at the Nigerian Exchange Limited (NGX), on Thursday, was bullish as the market reversed negative outing to close the fourth trading session of the week on a positive note with positive outing by most high capitalised pushing the benchmark index above 53,000 basis points.
Specifically, the All-Share Index (ASI) spiked by 1.05 per cent to stand at 53,275.49 basis points as against a previous close of 52,721.34 basis points.
It also pushed both the month-to date and year-to-date performance of the All-Share Index to stand at 7.33 per cent and 24.72 per cent respectively.
The impressive outing, therefore, boost investors’ portfolios by 1.05 per cent with investors earning N298 billion, as market capitalisation followed suit the direction of the ASI to stand at N28.721 trillion, from the N28.423 trillion it stood at the end of the previous trading session.
Bears’ camp maintain grip over the market breadth with 29 counters in the losers’ chart pitted against 21 counters in the gainers’ chart.
Transcorp Hotel gained 9.98 per cent to become the best performing stock in the session, flanked by Beta Glass, MCNicholas, Veritas Capital and Multiverse as they populated the top five gainers’ chart.
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From the rear of the chart Conoil, Eternal Oil, Prestige, Chams and Royal Exchange populated the top five losers’ chart.
Sectorial indices however closed in mixed direction with the ASI, with NGX Lotus Islam gaining 1.87 per cent to become the most gaining sector, NGX Insurance lost 1.33 per cent to become the most losing sector, while NGX ASEM sector closed flat.
Market activity as measured by volume of trades shed weight at the end of the trading session as the daily traded volume stood at 274.557 million units, representing a 55.14 per cent downtick from a volume of 611.974 million units traded in the previous session.
The value of those traded stocks however inched up by 13.75 per cent in the session to stand at N8.447 billion as against a value of N7.426 billion recorded in the previous trading session.
Transcorp dominated the volume charts as the top traded stock by volume for the trading session. This is followed by MTN Nigeria, Conoil, Guaranty Trust Holding Company (GTCO), and FBN Holdings to complete the list of the five most traded stocks by volume.
With regards to the value of traded stocks, MTN Nigeria took the lead of the top five performers. It is flanked by Seplat Energy, Conoil, GTCO and Nestle Nigeria.
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Local stock market halts bearish trade as investors earn N298bn