Equities trading at the Nigerian Exchange Limited (NGX), on Thursday, was positive as All Share-Index rebounded by three basis points (bps) to settle at 44,332.21 bps amid renewed bargain-hunting activity.
Buying interest in tickers such as Japaul Gold, Wapic Insurance, Dangote Sugar, Stanbic IBTC and AIICO Insurance pushed the ASI to the green zone, as their respective share prices jumped by 7.69 per cent, 5.88 per cent, 3.92 per cent, 3.57 per cent, and 1.75 per cent.
Despite the gain recorded on Thursday, the market remained on track for a weekly loss. As a result, the year-to-date (YTD) return stood at 3.78 per cent.
At the end of trading activities on Thursday, investors earned N7.24 billion to their equities investment as the market capitalisation rose to N24.14 trillion.
Market breadth, however, closed flat with 16 losers recorded against 16 gainers. On the performance board, UPDCREIT led fifteen 15 others on the gainer’s table having appreciated by 8.93 per cent, while Beta Glass topped 15 others on the laggard’s log after its share value depreciated by 9.98 per cent.
Given the rise in the benchmark index resulting from positive sentiment, the majority of the sub-indices tracked closed in the green, with the NGX Insurance, NGX Consumer Goods, and NGX Industrial indices advancing by 0.22 per cent, 0.20 per cent, and 0.09 per cent, respectively. The NGX Banking index and the NGX Oil/Gas index, on the other hand, declined by 0.82 per cent and 0.39 per cent, respectively.
Analysis of market activities showed week outing as trade turnover settled lower relative to the previous session, with the value of transactions down by 12.87 per cent.
A total of 119.22 million units of shares valued at N3.20 billion were exchanged in 2,909 deals.
Fidelity Bank led the volume chart with 39.36 million units traded while Airtel Africa led the value chart in deals worth N1.76 billion.
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