Africa-Press – Nigeria. The Nigerian Exchange (NGX) sustained its positive momentum on Wednesday, with investors recording an additional N881 billion gain in portfolio value.
Market capitalization rose by N881 billion, or 0.78 percent, to close at N114.377 trillion, up from N113.496 trillion at the previous session’s close. Similarly, the All-Share Index advanced by 0.78 percent, gaining 1,375.11 points to settle at 178,184.54 from 176,809.43 recorded on Tuesday.
Following the latest performance, the year-to-date return increased to 14.50 percent, while market breadth closed positive with 49 gainers against 32 losers.
The market’s advance was driven by renewed buying interest in large- and mid-cap stocks, including Meyer, Nestlé Nigeria, Fortis Global Insurance, Consolidated Hallmark Holdings, and Zichis Agro Allied Industries, among others.
Nestlé Nigeria, Meyer, Consolidated Hallmark Holdings, and Fortis Global Insurance topped the gainers’ chart, appreciating by 10 percent each to close at N2,420, N20.90, N4.95, and 33 kobo per share, respectively.
On the downside, Honeywell Flour led the losers with a 9.70 percent decline to N22.80 per share. Other notable decliners included Neimeth International Pharmaceutical, The Initiates, RT Briscoe, and Sterling Nigeria.
Trading activity showed that 939.2 million shares valued at N34.03 billion were exchanged in 61,279 transactions, compared with 1.3 billion shares worth N50.4 billion traded in 58,965 deals in the previous session. This reflected an 11 percent drop in volume, a 30 percent decline in value, and a four percent increase in the number of deals.
Tantalizer emerged as the most actively traded stock by volume, with 85.32 million shares exchanged, accounting for 9.08 percent of total volume. Aradel recorded the highest value of trades at N2.98 billion, representing 8.77 percent of the day’s total turnover.
investors had earlier recorded gains of N1.8 trillion on Tuesday and N1.4 trillion on Monday, underscoring the sustained bullish trend at the NGX.
For More News And Analysis About Nigeria Follow Africa-Press
