WED, JUNE 14 2023-theGBJournal |The domestic bourse extended its bullish momentum following positive reactions to perceived currency reforms by the new administration.
Notably, sustained bargain hunting in MTNN (+10.0%) and Tier-1 banking names triggered a 3.1% increase in the benchmark index.
Thus, the All-Share Index closed at 59,985.10 points. Accordingly, the Month-to-Date and Year-to-Date returns increased to +7.6% and +17.0%, respectively.
The total volume traded advanced by 9.7% to 1.30 billion units, valued at N21.08 billion, and exchanged in 11,947 deals. UBA was the most traded stock by volume at 230.76 million units, while GTCO was the most traded stock by value at N4.20 billion.
Analysing by sectors, the Banking (+26.5%) and Insurance (+23.0%) indices recorded the most significant gains, followed by the Oil & Gas (+16.0%), and Consumer Goods (+4.1%) indices. The Industrial Goods (-1.1%) index was the sole loser of the day.
As measured by market breadth, market sentiment was largely positive (5.4x), as 70 tickers gained relative to 13 losers.
DANGSUGAR (+10.0%) and INTBREW (+10.0%) topped the gainers’ list, while PHARMDEKO (-9.7%) and CWG (-9.4%) recorded the highest losses of the day.
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