Nigeria: Bulls persist at NGX as investors gain $250mln
Basically, at the Nigerian Exchange on Wednesday, gains in Guaranty Trust Holding Company, Zenith Bank, and Honeywell Flour Mills kept the market in the green, having appreciated in values by 3.85 per cent, 2.08 percent, and 9.81 per cent, respectively.
Consequently, the year-to-date (YTD) return of the All Share Index (ASI) rose to 5.76 per cent.
Market capitalization followed suit, also rising by 0.59 percent to N68.51 trillion, translating to a gain of approximately N403 billion in investors' wealth.Market breadth remained positive, as 48 stocks advanced while 17 declined.
On the performance board, top gainers included Meyer, UPDC Real Estate Investment Trust, Beta Glass, The Initiates, and Vitafoam after their respective share prices appreciated by 10.00 percent, 10.00 percent, 9.98 percent, 9.95 percent, and 9.94 per cent.
Conversely, the top decliners were Deep Capital Management and Trust, Veritas Kapital Assurance, Linkage Assurance, African Prudential, and UACN Property Development Company.
They recorded depreciation in share values by 10.00 percent, 9.09 percent, 6.61 percent, 5.60 percent, and 4.46 per cent.
Sectoral performance was mixed. The Banking, Consumer Goods, and Industrial Goods indices recorded gains of 2.12 percent, 2.11 percent, and 0.15 percent, respectively.
In contrast, the Insurance, Oil & Gas, and Commodities sectors declined by 0.15 per cent, 0.18 per cent, and 0.25 per cent.
Analysis of today's market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 32.25 per cent.A total of 587.47 million shares valued at N18.66 billion were exchanged in 17,496 deals.
Guaranty Trust Holding Company led both the volume and value charts with 98.64 million units traded in deals worth N6.57 billion.
Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).
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