After purchasing activity in shares of banks and insurance businesses, the Nigerian Exchange’s equities division rose up Wednesday. With shifting dynamics in the money market and a growing inflation rate, key market indicators inched upward over bigger holdings in growth and value stocks.
According to trade statistics, the Nigerian Exchange All Share index increased by 0.06%, despite the fact that stock market breadth finished negative, with more losers than gainers.
Considering the purchasing trend, the stocks market’s year-to-date gains increased to 7.19%, with the benchmark index rising 31.43 basis points to 54,936.11 points. Atlass Portfolios Ltd stockbrokers said that market activity was uneven compared to the previous day, with total volume traded increasing by +5.02%.
The total value transacted in the stock market for the day, on the other hand, fell by -16.15%. In 2,479 transactions, about 134.15 million units worth $1,330.47 million were transferred. According to data gathered from the Nigerian Exchange, TRANSCORP was the most traded stock in terms of volume, accounting for 21.02% of total transaction volume.
The conglomerate was followed on the volume list by UBA (15.87%), COURTVILLE (14.30%), GTCO (10.13%), and FBNH (6.07%). GTCO was the most traded stock in terms of value due to favorable sentiment, accounting for 25.33% of total transaction value.
Then, GTCO and WAPIC were the top joint gainers with a price appreciation of 2.44 per cent, trailed by LINKASSURE (2.22%), LASACO (2.04%), TRANSCORP (1.56%), FIDELITYBK (1.35%), and three (3) others.
Stockbrokers said fourteen stocks depreciated. NCR was the top loser, with a price depreciation of -9.69%.
Then came FTNCOCOA which lost -6.90% of its market valuation. JAPUALGOLD was priced down by 6.67%. CUTIX lost 4.95% and UCAP dropped by 2.46%. Based on the trading pattern, the market breadth closed negative, recording 9 gainers and 14 losers.
And, stock market sector performance closed negative, as two of the five major sectors dropped slightly. The Consumer goods index declined by 0.02% and the Banking index fell by 0.01%.
On the positive side, the Insurance index grew by +0.08% while the Industrial and Oil & Gas sectors closed unchanged.
Overall, equities market capitalisation popped up by ₦17.12 billion, representing a marginal growth of +0.06% to close at ₦29,927.07 trillion from ₦29,909.95 trillion yesterday.
