Mobil stocks’ gain further lifts market by 0.11 per cent

At the close of Wednesday’s trade at the Nigerian Stock Exchange (NSE), the local equities market closed slightly higher by 0.11 per cent.

Positive sentiments persisted in the domestic equities market for the third consecutive trading session, following interests Mobil stocks having advanced by 9.4 per cent to close at N249.5 kobo per share.

Pertinently, the All Share Index (ASI) increased by 0.1 per cent to 40,341.05 basis points. Accordingly, Month-to-Date and Year-to-Date gains both increased to 0.2 per cent.

Also, the market capitalisation advanced to N21.094 trillion as against an opening of N21.070 trillion.

Market sentiment, as measured by market breadth, was positive, as 31 tickers gained, relative to 15 losers.

Academy Press and Sovereign Insurance topped the gainers’ list with ten per cent respective growth, while Livestock and CHI Plc recorded the largest losses of the day with 9.7 per cent and 8.8 per cent decline in their respective shares.

The sectorial performance was positive as three out of the five indices tracked closed in green; the NSE Insurance, NSE Consumer Goods and NSE Industrial indices rose by 3.61 per cent, 0.36 per cent and 0.99 per cent respectively.

However, the NSE Banking and NSE Oil/Gas indices fell by 0.62 per cent and 0.05 per cent respectively.

The total volume traded declined by 59.9 per cent to 468.15 million units, valued at N6.96 billion, and exchanged in 5,697 deals.

Zenith Bank’s stocks were the toast of investors on Wednesday as it was the most traded stock by volume at 45.77 million units, while MTN N was the most traded stock by value at N2.25 billion.

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Mobil stocks’ gain further lifts market by 0.11 per cent