Equities trading at the Nigerian Exchange Limited (NGX), on Wednesday, was bullish as investors’ interest in Access Bank stocks buoyed the market a positive close.
All-Share index of the NGX rebounded by 0.02 per cent to close at 47,163.94 basis points as investors repositioned in stocks with good fundamentals ahead of corporate financial releases.
Thus the Month-to-Date and Year-to-Date returns were unchanged at -0.5 per cent and +10.4 per cent, respectively.
Investors, therefore, earned N3.98 billion as the market capitalisation appreciate by 0.02 per cent to close at N25.42 trillion.
As measured by market breadth, market sentiment was mixed as an equal number of 16 tickers posted gains and declined. On the performance chart, CAP recorded the highest gains of the day having appreciated by 10.0 per cent and 9.6 per cent respectively, while FCMB Group and Mutual Benefit topped the losers’ list after recording a decline in their share value by 8.7 per cent and 7.4 per cent.
Given the bullish momentum, the NGX Banking index, NGX Oil/Gas index and the NGX Industrial index rose by 0.25 per cent, 0.11 per cent and 0.08 per cent respectively. However, the NGX Insurance index fell by 0.18 per cent while the NGX Consumer Goods index was flat.
Meanwhile, market activity was relatively weak as analysis of market activities on Wednesday showed that trade turnover settled lower relative to the previous session, with the value of transactions declining by 17.61 per cent. A total of 267.48 million shares valued at N3.22 billion were exchanged in 4,099 deals.
Fidelity stocks were the most preferred for the day as they led the volume chart with 68.82 million units traded, while Guaranty Trust Holding Company (GTCO) led the value chart in deals worth N621.97 million.
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NGX: Access Bank stocks nudge market to green line, as investors gain N3.98bn
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