The Nigerian Exchange Limited’s (NGX;s) All-Share Index further appreciated on Wednesday, closing at 70,773.31 points, as investors’ sentiment for high-yielding stocks surges.
At the end of the day’s trading session, investors gained N87 billion as the market capitalization increased to N38.885 trillion due to what market analysts attributed to price gains by big stocks such as BUACEMENT (+1.90%), UBA (+1.47%) FBNH (+0.52%), and WAPCO (+1.38%).
However, when compared to the preceding day’s indices, there was a decline in the number of deals to 6,401 from Tuesday’s 7,100 deals while the volume of traded stocks increased to 558.345 million units compared to 449.283 million units traded yesterday, representing a 24.3% appreciation.
Data from the Nigerian Exchange Group on the day’s trading showed that in terms of value, there was also an appreciation to N9.79 billion, up from N7.71 billion recorded on Tuesday.
A further analysis of the market indices showed that at the close of the trading session on Wednesday, the top five ASI gainers were JAPAULGOLD, +9.87% to close at N1.67; MECURE, which gained +9.80% to close at N3.25; PRESTIGE, also appreciated by +9.76% to close at N0.45; CORNERST gained +9.72% to close at N1.58; and OMATEK appreciated by +9.62% to close at N0.57.
Conversely the top five ASI losers comprised CAVERTON, which lost -9.87% to close at N1.37 per share; MEYER, depreciated by -9.85% to close at N2.47; SCOA also dipped by -9.60% to close at N1.13; THOMASWY followed by -8.60% loss to close at N3.72; while UPDC depreciated by -8.26% to close at N1.11.
In terms of volume, FBNH (+0.52%) led for the second consecutive day with 209.9 million units traded, followed by UBA (+1.47%) with 53.72 million units, UNIVINSURE (+4.35%) with 43.69 million units, FIDELITYBK (-0.30%) with 22.25 million units, and UNITYBNK (-7.00%) with 18.03 million units.
A further analysis of the indices reflected on trading value, FBNH also led as N4.04 billion worth of shares were traded, followed by AIRTELAFRI with N2.35 billion, UBA with N1.10 billion, GTCO (+0.28%) with N383.11 million worth of shares, and FIDELITYBK with N203.73 million worth of shares.
