NGX Rebounds 0.39% at Final Trading Session in August

The Nigerian Exchange Limited (NGX) in the last trading session of the month was bullish, as the local bourse rebounded on Wednesday leaving the benchmark index 0.39 per cent stronger at 49,836.51 basis points.

This happened as gains recorded in BUA Foods, FBN Holdings, Access Corporation, and Wapco drove the broader index’s recovery as their respective share prices appreciated by 4.48 per cent, 2.29 per cent, 1.84 per cent and 4.60 per cent.

NGX Trade
NGX Rebounds 0.39% after consecutive losses on August 31.

Investors, therefore, gained N104.54 billion as the market capitalization settled at N26.88 trillion. As a result, the All Share Index (ASI) year-to-date (YTD) return rose to 16.67 per cent.

Market breadth closed positive with advancing issues outnumbering declining ones. Guinness topped 19 others on the leader’s log after increasing in share value by 9.88 per cent, while CHI Plc led 10 others on the laggard’s table after its share price declined by 7.69 per cent.

Key sectoral indices closed in the same direction as the ASI, save for NGX Insurance, NGX Consumer Goods and NGX Oil & Gas sectors that gained 0.08 per cent, 0.001 per cent and 0.10 per cent respectively in the session, while NGX INDUSTR, NGX Growth and NGX ASEM sectors closed flat.

Analysis of market activities for the day showed trade turnover settled higher relative to the previous session, with the value of transactions up by 5.35 per cent. A total of 367.34 million shares valued at N3.24 billion were exchanged in 3,725 deals.

Sterling Bank led the volume chart with 162.45 million units traded, while MTN Nigeria, for the second straight session, led the value chart in deals worth N873.29 billion.

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