Equities investors gain N127.9bn as NSE close bullish

By Our Reporter

The local bourse All-Share Index (NSE) rose by 0.63 per cent to 38,931.25 basis points amid renewed bargain hunting activity.

Consequently, the Month-to-Date and Year-to-Date losses moderated to -2.2 per cent and -3.3 per cent, respectively.

On Wednesday, investors earned N127.9 billion as the market capitalisation closed at N20.369 trillion as against an opening of N20.241 trillion

Specifically, blue-chip stocks were the toast of investors today as share prices of Nestle Nigeria, Dangote Cement and Seplat advanced by 1.85 per cent, 3.64 per cent and 0.02 per cent respectively.

As measured by market breadth, market sentiment was barely positive, as 23 tickers gained, relative to 21 losers. On the chart, Morison and Champion Breweries topped the gainers’ list having appreciated by 9.7 per cent and 8.9 per cent respectively, while Chi PLC and Eterna Oil recorded the largest losses of the day after recording a 10 per cent and 9.9 per cent dip in their share value.

The sectorial performance was positive as three out of the five indices tracked closed in the green territory; the NSE Insurance, NSE Consumer Goods and the NSE Industrial indices rose by 0.18 per cent, 0.40 per cent and 0.74 per cent respectively.

On the flip side, the NSE Banking and the NSE Oil/Gas indices fell by 0.35 per cent and 0.02 per cent respectively.

Meanwhile, trading activity was weak as the total volume traded declined by 24.9 per cent to 368.22 million units, valued at N4.91 billion, and exchanged in 4,437 deals.

United Bank for Africa was the most traded stock by volume at 74.84 million units, while Guaranty Trust Bank was the most traded stock by value at N1.06 billion.

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