NGX: Stock market maintains positive sentiment as benchmark index adds 1%

Sentiments remained positive at the Nigerian Exchange Limited (NGX) on Wednesday as the All Share Index (ASI) appreciated by 1.0 per cent.

The bullish trade at the domestic bourse was largely due to investors’ interest in MTN Nigeria, whose shares advanced by 4.5 per cent.

Investors, therefore gained about N217 billion at the close of trading session as the market capitalisation settled at N22.14 trillion.

Thus, the ASI advanced by 1.0 per cent to 42,435.16 basis points.

Consequently, the Month-to-Date loss moderated to -1.9 per cent, while the Year-to-Date gain increased to +5.4 per cent.
As measured by market breadth, market sentiment was positive as 18 tickers gained relative to 11 losers.

On the board, Meyer and Mansard Insurance and topped the gainers’ list, while CUTIX and Royale Exchange recorded the most significant losses of the day.

Sectoral performance was broadly positive, as the Banking), Oil and Gas, Consumer Goods, Insurance, and Industrial Goods indices posted gains by 1.8 per cent, 1.1 per cent, 0.6 per cent, 0.6 per cent and 0.1 per cent respectively.

There was an uptick in activities at the local bourse, as the total volume of trades increased by 1.6 per cent to 649.77 million units, valued at N7.20 billion, and exchanged in 3,757 deals.

FBN Holdings was the most traded stock by volume and value at 441.93 million units and N5.04 billion, respectively.

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