…The MTD and YTD gains printed at +4.3% and +39.5%, respectively.
WED, MAR 27 2024-theGBJournal| The Nigerian equities market rebounded on Wednesday with the All-Share Index notching a 0.3% gain to close at 104,283.64 points.
The MTD and YTD gains printed at +4.3% and +39.5%, respectively.
The positive market sentiments is driven by bargain hunting in ZENITHBANK (+8.8%) and GTCO (+5.7%) stocks.
The total trading volume advanced by 33.5% to 499.71 million units, valued at NGN12.41 billion, and exchanged in 10,260 deals. ACCESSCORP was the most traded stock by volume at 83.60 million, while GTCO was the most traded stock by value at NGN2.52 billion.
Sectoral performance was mixed, as the Banking (+3.0%), Insurance (+0.1%) and Industrial Goods (+0.1%) indices gained while the Oil & Gas index was unchanged. The Consumer Goods (-0.1%) index was the sole loser of the day.
As measured by market breadth, market sentiment was positive (1.3x), as 26 tickers gained relative to 20 losers. CWG (+10.0%) and FTNCOCOA (+9.9%) recorded the most significant gains of the day, while NNFM (-10.0%) and PRESTIGE (-9.7%) topped the losers’ list.
Meanwhile, the naira appreciated by 6.4% to N1,300.43/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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