On Wednesday, the Nigerian Exchange limited recorded mild gains, making it the third consecutive days of gain this week. The benchmark All-Share Index advanced by 3bps, mostly due to gains in ACCESS (+2.22%) and PRESCO (+3.71%) amongst others.
The ASI closed the day at 38,927.83 points, with the YTD loss improving to -3.3%. The market capitalization rose by N5.1bn to N20.28 trillion.
Activity Level
Trading activity declined as volume and value traded fell by 10.9% and 49.8% respectively to 206.29m units and ₦1.06bn.
Shares of STERLINBANK was the most traded shares by volume on Tuesday, with 51.82 million shares exchanging hands.
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TRANSCORP and UBA shares were the second and third most traded by volume wit 19.24 million and N17.24 million respectively.
UBA, SEPLAT and GTCO shares were the most trade by value in that order, with shares worth N129.78mn, N100.32mn, and N87.12mn respectively.
The most trading was done on GTCO shares, which saw 226 trade deals. This was followed by ZENITHBANK and UBA wit 192 and 155 trade deals respectively.
Performance of Indices under our watch
The performance of the five indices under our watch are as below;
- Industrial Goods Index: up 4bps
- Oil & Gas Index: down 0.6%
- Consumer Goods Index: fell 4bps
- Banking Index: up 56bps
- Insurance Index: fell 18bps
Investor Sentiment
Investors sentiment, as measured by market breadth (advance/decline ratio), strengthened to 0.9x from 0.4x recorded in the last trading session as 16 stocks advanced while 18 stocks declined.
Top Gainers:
- CUTIX gained 10.00% to close at N5.50
- VERITASKAP gained 8.70% to close at N0.25
- TRIPPLEG gained 7.78% to close at N0.97
- PRESCO gained 3.71% to close at N72.60
- NAHCO gained 2.44% to close at N2.52
Top Losers:
- SOVRENINS lost 7.14% to close at N0.26
- REGALINS lost 6.67% to close at N0.42
- UNITYBNK lost 5.00% to close at N0.57
- JAIZBANK lost 4.84% to close at N0.59
- CAVERTON lost 4.26% to close at N1.80
Outlook
We expect the financial reports for the H1 period to dictate the direction of the market in coming trading sessions.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur