Bulls dominated the Nigerian equities market, on Wednesday, as the All-Share Index (ASI) gains 0.26 per cent to settle at 41,249.71 basis points.
The positive sentiments enjoyed at the Nigerian Exchange Limited (NGX) pegged the equities market capitalization at N21.526 trillion as investors gained N54 billion in the session.
This outing brought the month-to-date and year-to-date outings of the All-Share Index to stand at 2.56 per cent and 2.43 per cent respectively.
The market breadth closed in favour of the bulls, with 21 counters in the gainers’ chart pitted against 18 counters in the losers’ chart.
NGX Group, GlaxoSmithKline, NPF Microfinance Bank, Wapic Insurance and FBN Holdings were the best-performing stocks in the session as they populate the top five gainers’ chart.
From the rear of the chart Prestige Insurance, Academy Press, Chi Plc, Cadbury and Union Bank of Nigeria populated the top five losers’ charts.
Sectorial indices recorded mixed outing with NGX Insurance went up by 0.58 per cent to gain the most weight, as NGX Oil&Gas lost 0.39 per cent to shed the most weight, while NGX Growth and NGX ASEM closed flat.
On Wednesday, market activity as measured by both volume and value of trades inched up in the session with daily traded volume standing at 500 million units, representing a 47.47 per cent increase from a volume of 339 million units traded in the previous session.
The value of traded stocks went up by 25.16 per cent in the session to stand at N5.079 billion as against a value of N4.058 billion recorded in the previous trading session.
Market activity for the session was dominated by the financial sector, with FBN Holdings being the most traded stock, as it is flanked by E-Tranzact, Access Bank, Transcorp and Guaranty Trust Holding Company.
With regards to the value of traded stocks, FBN Holdings, Guaranty Trust Holding Company, Nestle Nigeria, NGX Group and Zenith Bank made up the top five performers.
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NGX: Investors earn N54bn as bulls dominate market