The Nigerian Exchange Limited, NGX, saw its benchmark index rise by 0.17% at the close of trade on Wednesday, marking the first increase this week.
Specifically, the NGX All-Share Index rose from 99,217.60 basis points yesterday to 99,385.44 basis points today, up 167.84 basis points or 0.17%.
The market capitalization increased by ₦95 billion, or 0.17%, from ₦56,126 trillion to ₦56,221 trillion.
Investors are interested in Tier-1 banking tickers. The broader index’s good performance was driven mostly by GUARANTY TRUST HOLDING COMPANY PLC (+0.92%), ZENITH BANK PLC (+1.42%), and FBN HOLDINGS PLC (+2.99%).
Sequentially, the Month-to-Date and Year-to-Date returns increased to +0.1% and +32.9%, respectively.
The total volume of trades declined by 23.6% as trade turnover settled 33.15% lower than the previous session.
A total of 276.36 million units valued at ₦4.12 billion were exchanged in 7,597 deals where ACCESS HOLDINGS PLC was the most traded stock by volume and value at 45.34 million units and ₦859.40 million, respectively.
As measured by market breadth, market sentiment was positive, with 35 stocks advancing in comparison to the 13 decliners.
FTN cocoa processors plc (+10.0%), Oando plc (+10.0%) and CWG plc (+10.0% ) recorded the most significant gains of the day, while secure electronic technology plc (-10.0%), cornerstone insurance plc (-8.64%) and royal exchange plc. (-7.58%) topped the losers’ list.
Performance across the sectors was mixed, as the Banking (+0.8%), Consumer Goods (+0.3%), and Insurance (+0.1%) indices recorded gains, while the Industrial Goods and Oil & Gas indices closed flat.
