Kehinde Akinseinde-Jayeoba – Lagos
On Wednesday, Nigerian equities market traded with bullish sentiments, as buying interest in Guaranty Trust Holdings Company pushed the benchmark index higher having appreciated in share value by 2.4 percent.
Precisely, the All-Share Index (ASI) of the Nigerian Exchange Limited advanced by 0.1 percent to close at 54,936.11 basis points.
Also, investor sentiment was positive as buying interest in mid- and large-cap stocks such as Transnational Corporation, Fidelity Bank, FBN Holdings and NGX Group drove their respective share prices up by 1.56 percent, 1.35 percent, 0.46 percent, and 0.36 percent.
Accordingly, the Month-to-Date and Year-to-Date returns printed -1.6 percent and +7.2 percent, respectively.
Equities investors, therefore, gained N17.14 billion as the market capitalisation settled higher at N29.93 trillion by the end of trading activities on Wednesday.
However, as measured by market breadth, market sentiment was negative, as 14 tickers lost relative to 9 gainers. On the performance board, NCR and FTN Cocoa Processor topped the losers’ list having depreciated in share value by 9.7 percent and 6.9 percent, respectively, while Wapic Insurance and Guaranty Trust Holding Company recorded the highest gains of the day after their respective share prices appreciated by 2.4 percent.
Sectorial performance was strong as three out of the five indices tracked closed in the red zone; the NGX Banking, NGX Consumer Goods, and NGX Industrial indices moderated by 0.01 percent, 0.02 percent, and 0.01 percent, respectively. On the flip side, the NGX insurance index rose by 0.08 percent, while the NGX Oil/Gas index stayed flat from the previous day.
However, activities at the local bourse were tepid as analysis indicated that trade turnover settled lower relative to the previous session, with the value of transactions down by 16.15 percent.
A total of 134.15 million shares valued at N1.33 billion were exchanged in 2,479 deals. Transnational Corporation led the volume chart with 28.12 million units while Guaranty Trust Holding Company led the value chart in deals worth N336.90 million.
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