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“The Lagos bourse rebounded after the previous day’s pullback as the benchmark Index gained 0.55 per cent to close at 51,729.87 basis points.”
The Lagos bourse rebounded after the previous day’s pullback as the benchmark Index gained 0.55 per cent to close at 51,729.87 basis points.
On Wednesday, gains in index heavyweight, BUA Cement alongside Tier-1 banking names, Zenith Bank, Guaranty Trust Holding Company and FBN Holdings pushed the broader index into positive territory as the share prices of these companies appreciated by 3.59 per cent, 0.21 per cent, 1.48 per cent and 0.45 per cent, respectively.
Accordingly, the Year-to-Date All-Share-Index (ASI) gain increased to +0.9 per cent.
Investors, therefore, gained N153.24 billion as the market capitalization settled at N28.18 trillion by the close of trading activities of the Nigerian Exchange Limited (NGX).
As measured by market breadth, market sentiment was positive as 26 tickers gained relative to 11 losers. On the performance board, ThomasWay and Champion Breweries recorded the highest gains of the day after their respective share prices appreciated 9.5 per cent, while Royal Exchange and Wapic Insurance topped the losers’ list as their share prices dipped by 7.4 per cent and 6.7 per cent, respectively.
On sectoral performance, the Industrial Goods, Banking, and Consumer Goods indices recorded gains of 1.5 per cent, 1.1 per cent and 0.2 per cent, respectively while the Insurance index closed in the red with 0.7 per cent. The Oil & Gas index closed flat.
Analysis of market activities showed trade turnover settled lower relative to the previous session with the value of transactions down by 0.55 per cent.
A total of 281.94 million shares valued at N8.16 billion were exchanged in 3,679 deals. FBN Holdings led the volume chart with 108.93 million units traded while BUA Cement led the value chart in deals worth N4.07 billion.
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Equities market recoup previous day’s loss, investors earn N153.24bn
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