TUE, MAR 05 2024-theGBJournal| The Nigerian equities market extended Monday’s positive sentiment following bargain hunting in FBNH (+9.9%) and TRANSCORP (+10.0%).
Specifically, the All-Share Index notched a 0.4% gain to close at 99,190.46 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -0.8% and +32.7%, respectively.
The total volume traded declined by 7.3% to 398.13 million units, valued at NGN31.79 billion, and exchanged in 10,976 deals. TRANSPOWER was the most traded stock by volume and value at 87.49 million units and NGN25.41 billion, respectively.
From a sectoral perspective, the Insurance (-3.2%) and Consumer Goods (-0.8%) indices declined, while the Banking (+1.1%) index advanced. Meanwhile, the Industrial Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was negative (0.2x), as 37 tickers lost relative to 8 gainers. NASCON (-10.0%) and INTBREW (-10.0%) topped the losers’ list, while TRANSCORP (+10.0%) and TRANSPOWER (+10.0%) recorded the most significant gains of the day.
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