Equities trading at the Nigerian Exchange Limited (NGX) on Wednesday were positive to reverse the previous day’s loss as renewed interest in BUA Cement and First Bank of Nigeria Holdings supported the day’s performance as these high-capitalised stocks appreciated by 4.9 per cent and 10.0 per cent, respectively.
Specifically, the Nigerian Exchange All Share Index inched higher by 0.3 per cent to close at 101,362.38 basis points.
Accordingly, the Month-to-Date and Year-to-Date returns increased to +0.2 per cent and +35.6 per cent, respectively.
Owing to the overall positive sentiments at the local bourse on Wednesday, equities investors earned N165.09 billion cumulatively as the market capitalization settled at N55.46 trillion by the end of the day’s trading activities.
As measured by market breadth, market sentiment was negative, as 42 tickers lost relative to 10 gainers. On the performance board, Okomu Oil Palm Processors and Morison Industries recorded the highest losses of the day after their respective share prices dipped by 10.0 per cent and 9.7 per cent, while FBN Holdings and Mutual Benefits Assurance topped the gainers’ list having appreciated in share value by 10.0 per cent and 9.4 per cent, respectively.
On sectors, the Industrial Goods, Banking and Oil & Gas, indices advanced by 1.6 per cent, 0.3 per cent and 0.1 per cent, respectively; while the Insurance and Consumer Goods indices declined by 2.5 per cent and 0.2 per cent, respectively.
However, activities at the Exchange on Wednesday was unimpressive as analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 1.15 per cent.
A total of 302.74 million shares valued at N6.55 billion were exchanged in 8,611 deals. FBN Holdings led both the volume and value chart with 39.38 million units traded in deals worth N1.10 trillion.
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