On Wednesday, trading activity at the Nigerian Exchange Limited (NGX) remained upbeat as the local stock market experienced a bullish session, with positive sentiment leading to buying pressure across some sectors.
Thus, the All-Share Index (ASI) closed higher by 0.55 per cent to 72,299.79 basis points.
Notably, investors’ interests in Tier 1 banks, namely Zenith Bank, Guaranty Trust Holding Company, and United Bank for Africa, contributed to the overall bullish performance, as the prices of these banking stocks appreciated by 2.54 per cent, 1.01 per cent, and 3.45 per cent, respectively.
Accordingly, the month-to-date and year-to-date returns increased to +1.3 per cent and +41.1 per cent, respectively.
Equities investors, therefore, gained N214.80 billion as the market capitalisation settled at N39.56 trillion.
As measured by market breadth, market sentiment was positive, as 34 tickers gained relative to 15 losers.
On the performance board, SCOA and Infinity recorded the most significant gains of the day, having appreciated by 9.9 per cent, respectively, while University Press Limited and Sunu Assurance topped the losers’ list after their respective share prices dipped by 9.8 per cent and 9.8 per cent, respectively.
Moving to the sectors, performance was quite bullish, as three out of the five sub-sector gauges tracked closed in the green zone. The banking, insurance, and industrial goods sectors recorded gains of 3.42 percent, 0.88 per cent, and 0.01 per cent, respectively.
On the contrary, the Consumer Goods and Oil/Gas indexes suffered losses of 0.18 per cent and 0.20 percent.
Trading activity remained robust as the total deals, volume, and value surged by 2.34 per cent, 35.56 per cent, and 37.40 per cent to 6,650 trades, 433.18 million units, and N8.08 billion.
Access Holdings emerged as the most traded security in terms of volume, reaching 60.18 million units in 658 trades, while Guaranty Trust Holding Company emerged as the most traded security in terms of value, worth N1.96 billion.
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