The All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited crossed the 120,000 points milestone and the next on Wednesday following sustained buying pressure from investors.
During the session, the benchmark index rose by 1,466.87 points or 1.22 per cent to finish at 121,257.69 points from the 119,790.82 points it ended a day earlier.
Similarly, the market capitalisation expanded by N1.185 trillion or 1.57 per cent to settle at N76.761 trillion compared with the N75.576 trillion it closed in the previous trading day.
Yesterday, the market ended with a turnover of 861.7 million shares valued at N26.2 billion completed in 22,896 deals versus the 854.8 million shares worth N23.5 million transacted in 21,933 deals, implying an increase in the trading volume, value, and number of deals by 0.81 per cent, 11.49 per cent and 4.39 per cent apiece.
The busiest equity at midweek was Fidelity Bank with the sale of 83.0 million units for N1.7 billion, Caverton exchanged 64.2 million units worth N319.7 million, Zenith Bank transacted 60.6 million units valued at N3.5 billion, Japaul traded 56.3 million units for N115.4 million, and Access Holdings sold 48.6 million units worth N1.1 billion.
Business Post observed that all the key sectors of the bourse gained on Wednesday, with the banking space growing by 2.38 per cent.
Further, the consumer goods index appreciated by 2.25 per cent, the industrial goods sector improved by 2.24 per cent, the insurance counter jumped by 1.97 per cent, the energy industry soared by 1.10 per cent, and the commodity space increased by 0.30 per cent.
A total of 63 stocks ended on the gainers’ table yesterday and 17 stocks finished on the losers’ chart, indicating a strong investor sentiment and positive market breadth index.
Dangote Sugar surged by 10.00 per cent to quote at N48.40, Oando also soared by 10.00 per cent to N68.75, Champion Breweries rose by 9.98 per cent to N10.91, C&I Leasing gained 9.98 per cent to close at N5.18, and CWG expanded by 9.95 per cent to N11.60.
On the flip side, University Press lost 6.25 per cent to trade at N6.00, RT Briscoe declined by 6.12 per cent to N2.30, Multiverse weakened by 4.89 per cent to N8.75, Meyer fell by 4.69 per cent to N9.15, and Consolidated Hallmark slipped by 4.15 per cent to N3.00.