Nigerian Equities Market up 0.28% Wednesday

The Nigerian Equities Market inched up as the bulls held sway over the bears which had have five consecutive sessions of dominance. The NGX All-Share Index (ASI) gained 0.28 per cent at the close of Wednesday trading to stand at 47,287.09bps.

This positive outing brought both the month-to-date and year-to-date performance of the All-Share Index to stand at -0.23 per cent and 10.70 per cent respectively.

Investors earned N71 billion in the session as the Market Capitalization followed suit the direction of the ASI to stand at N25.485 trillion, a 0.28 per cent gain from the N25.414 trillion it stood at the end of the previous trading session.

Market breadth also closed in favor of the bulls, as 30 counters in the gainers’ chart were pitted against 12 counters in the losers’ chart.

PRESCO, PHARMDEKO, LINKASSURE, ROYALEX, and UPDC led the top gainers chart in todays’ session as the best five performing stocks, with PRESCO gaining 10.00%. From the rear of the chart, ELLAHLAKES, MAYBAKER, NEIMETH, NIGERINS, and CUTIX populated the top five losers chart.

Most sectorial indices closed in the same direction with the ASI, save for NGX BNK and NGX INDUSTR sectors that lost 0.04% and 0.01% respectively, while NGXGROWTH and NGX ASEM closed flat.

Market activity as measured by volume of trades waned in the session with daily traded volume standing at 336.305 units, a 55.45% decrease from a volume of 754.933mn units traded in the previous session.

Conversely, market turnover improved in the session as it went up by 61.09% to stand at N5.860bn as against a value of N3.638bn recorded in the previous trading session.

FBNH is the most traded stock in today’s session, as it is flanked in the trading session by GTCO, UCAP, ZENITHBANK, and JAPAULGOLD to complete the list of the five most traded stocks in terms of volume of trades.

With regards to the value of traded stocks, GTCO took the lead of the top five performers as well. It is flanked by FBNH, NESTLE, ZENITHBANK, and lastly UCAP.

Courtesy: APT Securities and Investment Limited