Share trading on the Nigerian Stock Exchange (NGX) was bullish on Wednesday as the All Share Index (ASI) gained 80 basis points to close at 104,230.73 basis points. Notably, buying interests in MTN Nigeria Communications and First Bank of Nigeria Holdings influenced the overall positive outflow as these large-cap stocks appreciated by 10 per cent and 6.61 per cent respectively.
Consequently, year-to-date (YTD) performance rose to 127 basis points, while market capitalization added N507.28 billion to close at N63.56 trillion. However, as measured by market breadth, market sentiment was mixed as 27 tickers gained compared to 27 losers.
On the performance dashboard, MTN Nigeria Communications and Transnational Corporation led the gainers, having appreciated in value of their shares by 10 percent each; while Sunu Assurance and Universal Insurance recorded the most significant losses of the day, having depreciated the value of their shares by 10 percent and 9.0 percent, respectively.
Sectoral performance was also mixed, as the Banking and Consumer Goods indices advanced 0.6 percent and 0.1 percent, respectively, while the Insurance and Oil and Gas indices closed down 0. .3 percent and 0.1 percent, respectively. The Industrial Goods index remained unchanged.
An analysis of market activities during the analyzed day showed that the turnover closed lower compared to the previous session, with the value of transactions decreasing by 31.99 percent. A total of 756.42 million shares valued at N24.69 billion were exchanged in 13,551 transactions.
For the second consecutive session, First Bank of Nigeria Holdings led the volume chart with 125.71 million units, while Geregu Power led the value chart with deals worth N11.39 billion.
READ MORE FROM: NIGERIAN TRIBUNE