On Wednesday, bullish sentiment persisted at the Nigerian Exchange Limited (NGX) as gains in Tier-1 banks namely, Zenith Bank, Guaranty Trust Holding Company alongside Stanbic IBTC Holdings having appreciated in share value by 4.23 per cent, 3.49 per cent and 3.13 per cent, respectively.
Consequently, the All Share Index posted a 2.04 percent gain to settle at 77,537.57 basis points.
As a result, the year-to-date (YTD) return rose to 3.70 percent.
Meanwhile, equities investors earned N846.37 billion on Wednesday as the market capitalisation settled at N42.43 trillion by the end equities trading stopped at the local bourse.
Performance at the local bourse for the day under review reflected overall sentiments. As measured by market breadth, market sentiment was predominantly positive, as 76 tickers gained relative to 7 losers.
On the performance board, Morison and University Press topped the gainers’ list having appreciated by 10.0 percent respectively, while Learn Africa and Champion Breweries recorded the highest losses of the day after their respective share prices dipped by 9.1 percent and 7.3 per cent.
Sectoral performance was reflective of the overall market sentiment, as the Banking, Insurance, Consumer Goods, Oil & Gas and Industrial Goods indices all advanced by 6.7 percent, 5.5 percent, 2.4 percent, 1.9 percent and 0.3 per cent, respectively.
Analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 91.83 per cent.
A total of 927.56 million shares valued at N10.69 billion were exchanged in 11,629 deals. Fidelity Bank led the volume chart with 108.11 million units traded while United Bank for Africa led the value chart with deals worth N1.54 billion.
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