A widespread buying interest in equities in the financial services and industrial goods sectors further strengthened the Nigerian Exchange (NGX) Limited by 0.28 per cent on Wednesday.
According to data from the exchange, the insurance counter closed higher by 2.48 per cent, the industrial goods sector improved by 0.97 per cent, and the banking industry gained 0.45 per cent.
However, the consumer goods space depreciated by 0.13 per cent, the energy index went down by 0.05 per cent, and the commodity counter tumbled by 0.02 per cent due to mild profit-taking.
When the closing gong was struck at 2:30 pm to signify the end of trading activities, the All-Share Index (ASI) increased by 335.74 points to 121,989.67 points from 121,653.93 points and the market capitalisation inflated by N211 billion to finish at N76.970 trillion compared with the previous day’s N76.759 trillion.
Fifty-nine equities ended on the gainers’ table yesterday versus 21 equities on the losers’ chart, representing a positive market breadth index and strong investor sentiment.
The quintet of Chams, Omatek, Ellah Lakes, Nigerian Enamelware and C&I Leasing gained 10.00 per cent each to quote at N2.75, N1.21, N10.45, N20.35, and N7.26, respectively.
However, Legend Internet lost 8.05 per cent to trade at N8.00, Guinea Insurance depleted by 7.14 per cent to N1.04, Eterna slumped by 4.65 per cent to N41.00, eTranzact contracted by 4.44 per cent to N8.60, and Regency Alliance dropped 4.35 per cent to close at 88 Kobo.
A total of 888.7 million stocks worth N15.6 billion exchanged hands in 24,303 deals at midweek compared with the 1.0 billion stocks valued at N19.5 billion transacted in 24,770 deals on Tuesday, implying a shortfall in the trading volume, value, and number of deals by 11.84 per cent, 20.00 per cent, and 1.89 per cent, respectively.
Leading the activity chart was Japaul with 137.3 million units sold for N410.9 million, Access Holdings traded 83.0 million units valued at N1.9 billion, AIICO Insurance exchanged 50.0 million units worth N95.3 million, Universal Insurance traded 42.0 million units valued at N30.5 million, and Ellah Lakes transacted 31.9 million units worth N331.million.