MON MAY 27 2024-theGBJournal| The Nigerian equities market edged higher in today’s trading session driven by bargain hunting in UBA (+5.7%), ZENITHBANK (+2.5%), FBNH (+3.2%), FIDELITYBK (+8.4%) and ACCESSCORP (+3.4%).
Consequently, the NGX ASI notched a 0.3% gain to close at 97,863.34 points. Sequentially, the MTD and YTD returns settled at -0.4% and +30.9%, respectively.
The total trading volume declined by 52.3% to 366.98 million units, valued at N5.94 billion, and exchanged in 8,031 deals.
ACCESSCORP was the most traded stock by volume and value at 176.23 million units and N2.99 billion, respectively.
Analysing by sectors, the Banking (+2.5%), Oil & Gas (+1.0%) and Consumer Goods (+0.2%) indices recorded gains while the Industrial Goods index closed flat.
The Insurance (-0.7%) index was the sole loser of the day.
As measured by market breadth, market sentiment was negative (0.7x), as 21 tickers lost relative to 15 gainers. t (-10.0%) and CWG (-10.0%) recorded the highest losses of the day, while JOHNHOLT (+9.6%) and FIDELITYBK (+8.4%) topped the gainers’ list.
Meanwhile, the naira appreciated by 10.7% to N1,339.33/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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