The Nigerian equities market sustained previous Tuesday’s rebound, gaining N252.098 billion in market capitalization on Wednesday and lifting the benchmark All-Share Index by 0.27% to close at 145,323.87 points, up from 144,928.36 points on Tuesday.
Market capitalization increased by the same percentage to close at N92.63 trillion, up from N92.376 trillion.
The market performance was driven by share price gains in 30 stocks, led by GUINNESS Nigeria Plc, which increased by a maximum daily +10% to N198.0 from previous close of N180.0 per share.
Also, gains by high-cap Tier 1 banks of UBA (+3.1%), and GTCO (+0.7%), Zenith, Access Corp, as well as gains in BUACEMENT (+1.3%) further strengthened market performance.
Consequently, the Month-to-Date and Year-to-Date returns settled at +1.3% and +41.2%, respectively. The year-to-date returns strengthened at +41.16% up from +40.8% the previous day.
Key performance indicators
- All Share Index: Up +0.27% to 145,323.87 points
- Market Cap: Up +0.27% to N92.63 trillion
- YTD Change: +41.19%
- Volume: Up +271.27% to 2.250 billion shares
- Deals: Up +45.45% to 21,513
- Value: Down -47.17% to N20.97 billion
Top 5 Gainers
- GUINNESS: Up +10% to N198.00 from N180.00
- NCR: Up +9.98% to N72.70 from N66.10
- NGXGROUP: Up +9.96% to N61.80 from N56.20
- MULTIVERSE: Up +9.95% to N11.05 from N10.05
- SKYAVN: Up +9.74% to N88.45 from N80.60
Top 5 Losers
- VERITASKAP: Down -4.47% to N1.71 from N1.79
- LASACO: Down -3.77% to N2.55 from N2.65
- PRESTIGE: Down -3.03% to N1.60 from N1.65
- ROYALEX: Down -2.56% to N1.90 from N1.95
- ETI: Down -1.88% to N34.00 from N34.65
Volume and value traded:
The volume of units traded increased dramatically, rising by 271.27% to a total of 2.25 billion units due to increased institutional positioning in the shares of E-Transact Plc, where investors exchanged 1.847 billion units valued at N5.547 billion.
Biggest volumes
- ETRANZACT: Traded 1.847 billion units valued N5.547 billion
- ACCESSCORP: Traded 54.408 million units valued N1.121 billion
- ZENITHBANK: Traded 52.661 million units valued N3.159 billion
- GTCO: Traded 34.819 million units valued N3.020 billion
- STERLINGNG: Traded 25.083 million units valued N179.532 million
However, the total value traded dipped by 47.17%, closing at N20.97 billion, indicating that while more shares were changing hands, their relative value declined.
Sector Performance:
In terms of sector performance, the Insurance sector posted a modest 0.27% increase, with Consumer Goods not far behind at 0.38%.
- Banking stocks saw a slight uptick of 0.65%, signaling a positive outlook for the financial sector.
- On the other hand, the Oil & Gas sector saw a decline of 0.47%, and Industrial Goods inched up by 0.47%.
The overall market sentiment reflects a cautiously optimistic outlook, with key sectors showing resilience despite some challenges.
The increase in traded volume suggests that investors are engaging more actively in the market, though the decrease in value traded points to caution in the overall valuation of stocks.
