The Nigerian Stock Market, on Wednesday, November 30, glided back into the North after five long days of intense bear momentum.
As a result, market capitalisation of the bourse soared to N8.689 trillion from N8.686 trillion, bringing year to date losses down to -11.87 percent.
Performance across all sectors closed the day’s trading on a positive note, as the Banking Index posted the highest appreciation of 2.17 percent buoyed by gains in Guaranty Trust Bank, Stanbic IBTC and Wema Bank.
The NSE Oil & Gas index also grew by 1.35 percent as a result of increases in Mobil and Oando while the consumer goods, industrial and NSE 30 indices recorded appreciation of varying degrees.
Despite appreciation in market value, market breadth stayed negative with 18 advancers and 20 losers. Mobil, for the third consecutive session, led the day’s 18 advancers appreciating by 10.24 percent to close at N266.67 per share. Meanwhile, Axamansard Insurance topped retreating stocks, with a 5 percent decline to close at N1.71 per share.
Wema Bank emerged the most traded stock for the day with 199.3 million shares valued at N102.9 million, Access Bank followed with 59.1 million units of shares worth N324.7 million while Stanbic came third with the sale of 25.9 million shares worth N388 million.
Guaranty Trust Bank traded 23.3 million shares worth N526.7 million and Zenith Bank sold approximately 18.6 million shares at N254.4 million.
At the end of trading for the day, investors traded a total of 414.2 million shares worth N3.418 billion in 2,567 deals.
