Business

NGX benchmark index adds 0.2% as investors gain N63.5bn

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2 years ago

The local bourse bounced back on Wednesday, reversing previous session losses, as the benchmark Index regained 0.17 per cent to close at 67,100.49 basis points.

At the Nigerian Exchange Limited, investor interests in industrial heavyweight BUA Cement, United Bank for Africa and Flour Mills of Nigeria offset sustained selloffs of banking stocks as these companies appreciated in share value by 2.32 per cent, 0.58 per cent and 0.47 per cent, pushing the broader index into positive terrain.

Consequently, the Month-to-Date and Year-to-Date returns increased to +1.1 per cent and +30.9.per cent, respectively.

As a result, equities investors gained N63.52 billion as the market capitalization settled at N36.86 trillion.

As measured by market breadth, market sentiment was positive, as 18 tickers gained relative to 17 losers. On the performance chart, ThomasWay and Daar Communication topped the gainers’ list after their respective share prices appreciated by 9.8 per cent and 9.5 per cent, while Omatek and Oando recorded the highest losses of the day, having dipped in share value by 8.3 per cent and 8.1 per cent, respectively.

Sectoral performance was mixed, as the Insurance and Industrial Goods indices posted gains by 1.6 per cent and 1.0 per cent, respectively, while the Consumer Goods and Oil and gas indices closed flat. The Banking index was the sole loser of the day, having dipped by 0.3 per cent.

Analysis of market activities for the day under review showed trade turnover settled lower relative to the previous session, with the value of transactions down by 42.86 per cent. A total of 410.32 million shares valued at N4.46 billion were exchanged in 5,637 deals.

Neimeth Pharmaceutical led the volume chart with 163.20 million units traded, while Zenith Bank led the value charts in deals worth N1.02 billion.

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