The Nigerian Stock market has maintained a positive stance, closing on a bullish note on the third trading day of the week, with the market capitalisation and ASI appreciating.
It was a significant trading the third for the week at the Nigerian Exchange Limited (NGX). , as 34 stocks appreciated contributing to lifting the market.
Investors at the close of Wednesday’s trading smiled home with ₦214.80 billion.
The NGX All-Share Index (ASI) closed higher by 0.55% to 72,299.79 basis points, while the NGX market capitalisation settled at ₦39.56 trillion.
Tier 1 banks, stocks rose significantly, as Zenith Bank, GTCO, and UBA, recorded 2.54%, 1.01%, and 3.45%, respectively.
The contributions of these Tier 1 banks led to the bullish performance in the stock market.
SCOA and Infinity recorded the most significant gains of the day, having appreciated by 9.9%, respectively.
University Press Limited and Sunu Assurance topped the losers’ list after their respective share prices dipped by 9.8% and 9.8%, respectively.
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Sectoral performance was quite bullish, as three out of the five sub-sector gauges tracked closed in the green zone.
The banking, insurance, and industrial goods sectors recorded gains of 3.42%, 0.88%, and 0.01%, respectively.
On the contrary, the NGX Consumer Goods and Oil/Gas indexes suffered losses of 0.18% and 0.20%.
Trading activity remained robust, as the total deals, volume, and value surged by 2.34%, 35.56%, and 37.40% to 6,650 trades, 433.18 million units, and %8.08 billion.
