The Nigerian Exchange Limited (NGX) maintained its bullish trend on Wednesday as market capitalization gained N183 billion.
The NGX market capitalization, which opened at N59.532 trillion, gained N184 billion, or 0.31 per cent, to close at N59.715 trillion.
The All-Share Index also added 0.31 per cent, or 303 points, to settle at 98,509.68, against 98,206.97 recorded on Tuesday. To this end, the Year-To-Date (YTD) return increased to 31.74 per cent.
Gains in Aradel Holdings, Zenith Bank, United Bank for Africa (UBA), Oando Plc, Nigerian Breweries, and other equities drove the market performance up. Market breadth closed positive with 34 gainers and 17 losers.
On the gainers’ table, Africa Prudential, Conoil, and RT Briscoe led by 10 percent each to close at N14.30, N352, and N2.42 per share, respectively. Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 percent to close at N10.70 per share.
On the flip side, Julius Berger led the losers’ table by 10 percent to close at N155.25, and Secure Electronic Technology Plc trailed by 9.52 percent to close at 57k per share. Multiverse lost 7.63 percent to close at N5.45, Haldane McCall dropped 6.07 percent to close at N4.95, and Honeywell Flour shed 5.62 percent to close at N4.70 per share.
Analysis of the market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 percent. Accordingly, 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81 billion traded in 9,098 deals posted in the previous session.
Meanwhile, ETranzact led the activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.
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