At the Nigerian Exchange Limited (NGX), equities trading maintained its bullish momentum on Wednesday, with the All-Share Index (ASI) rising by 0.42 percent to close at 98,987.42 basis points.
By the end of the day’s trading activities, market capitalization also increased by 0.42 percent, closing at N56.88 trillion, which added N240.7 billion to investors’ portfolios. Accordingly, the Month-to-Date (MTD) and Year-to-Date (YTD) gains advanced to +2.5 percent and +32.4 percent, respectively.
Market sentiment was positive, as indicated by market breadth, with 30 tickers gaining compared to 24 losers. Leading the gainers were Flour Mills of Nigeria, Seplat Energies, Ellah Lakes, Honeywell Flour Mills, and ABC Transport, which appreciated in share value by 10 percent, 10 percent, 9.97 percent, 9.87 percent, and 9.57 percent, respectively.
On the other hand, the top losers included Multiverse Mining and Exploration, Caverton Onshore Support Group, AXA Mansard Insurance, First Bank of Nigeria Holdings, and Fidelity Bank, all of which posted losses.
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Despite the bullish trend, sectoral performance was mixed: the Banking and Insurance sectors dropped by 0.70 percent and 0.35 percent, respectively, while the Consumer Goods, Oil/Gas, and Industrial Goods sectors saw gains of 0.50 percent, 3.27 percent, and 0.03 percent.
Trading activity was somewhat subdued on Tuesday, with the number of deals and trading volume decreasing by 19.52 percent and 20.93 percent, respectively, resulting in 603.3 million shares traded across 9,723 deals. However, the traded value rose by 6.75 percent to N12.58 billion. Fidelity Bank was the most actively traded stock by volume, with 121.7 million shares exchanged in 1,014 deals.
