WED JUNE 05 2024-theGBJournal| The Nigerian equities market recorded its first positive performance of the week on Wednesday as bargain-hunting in STANBIC (+9.6%) drove the benchmark index higher by 0.2%.
As a result, the All-Share Index closed at 99,284.38 points, with the Month-to-Date and Year-to-Date returns settling at 0.0% and +32.8%, respectively.
The total volume traded declined by 11.3% to 308.14 million units, valued at N4.86 billion, and exchanged in 7,690 deals. FIDELITYBK was the most traded stock by volume and value at 84.05 million units and NGN883.22 million, respectively.
Sectoral performance was broadly positive, as the Banking (+2.5%), Oil & Gas (+0.3%) and Consumer Goods (+0.2%) indices advanced, while the Insurance (-1.5%) index settled lower. Meanwhile, the Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.8x), as 23 tickers lost relative to 18 gainers. ETERNA (-9.8%) and REDSTAREX (-9.8%) topped the losers’ list, while OANDO (+9.9%) and LINKASSURE (+9.4%) recorded the most significant gains of the day.
Meanwhile, the naira depreciated by 0.8% to NGN1,488.60/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM), down from N1,476.12/USD from Tuesday’s close.
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