WorldStage— Trading on the Nigerian stock market closed on a positive note on Wednesday, with investors gaining N99 billion as buying interest persisted in several large- and mid-cap stocks.
Market capitalisation rose by 0.06 per cent, increasing from N156.943 trillion to N157.042 trillion.
The All-Share Index (ASI) gained 154.59 points, or 0.06 per cent, to close at 244,852.21, compared with 244,697.62 recorded in the previous session.
The sustained rally further strengthened the market’s Year-To-Date (YTD) return to 57.35 per cent.
In spite of the positive close, market breadth remained negative, with 37 stocks recording losses against 30 gainers, indicating a broader sell-off across the market.
FG142037S2 led the decliners’ chart by 26.67 per cent, closing at N95.33, Neimeth Pharmaceuticals trailed by 10 per cent, settling at N9 while International Energy Insurance dropped by 9.92 per cent, finishing at N7.90 per share.
Similarly, John Holt shed by 9.73 per cent, ending the session at N13.45 and Union Homes Real Estate Investment Trust dipped by 8.56 per cent, closing at N70 per share.
On the other hand, Livestock Feeds led the gainers’ chart by 10 per cent, settling at N9.35, Deap Capital Management followed by 9.86 per cent, ending the session at N5.35 and Abbey Mortgage Bank gained by 9.78 per cent, finishing at N12.35 per share.
Also, Vitafoam rose by 8.25 per cent, closing at N210 while FTN Cocoa Processors soared by 6.54 per cent, settling at N9.45 per share.
Market activity declined for the day, with total trading volume falling by 3.47 per cent to 1.23 billion shares valued at N38.84 billion in 54,193 transactions.
Sterling Nigeria emerged as the most actively traded stock by volume, accounting for 565.33 million shares or 46.10 per cent of the total volume traded.
Aradel led in value terms with transactions worth N6.82 billion, representing 17.55 per cent of the day’s total market value.
