Stocks Market Sustains Gaining Streak, up N15.3bn

The Nigerian stocks market on Wednesday sustained its gaining streak, as market capitalisation appreciated by N15.29billion to close at N37.00trillion, higher than the N36.99trillion posted on Tuesday and N36.83trillion recorded on the first trading day of the week.

Although, the domestic bourse ended the session mixed albeit with a bullish tilt as the benchmark Index managed to eke out a meager 0.04 per cent gain to close at 67,353.23 points, compared to 67,326.12 points declared at the previous trading session and 67,037.93 points posted on Monday.

Consequently, gains of 1.21 per cent in ZENITHBANK, GTCO 0.71 per cent and 1.62 per cent recorded by United Bank for Africa (UBA) drove the market into the green despite losses of 1.18 per cent in ACCESSCORP, 0.31 per cent in FBNH and 1.02 per cent in WAPCO.

As a result, the year-to-date (YTD) return rose to 31.42 per cent, while yesterday’s market turnover settled lower relative to the previous session, with the value of transactions down by 9.10 per cent.

Analysis of activities showed a total trade of 397.56million shares valued at N4.70billion were exchanged in 6,165 deals.

Hence, WEMABANK (+0.64%) led the volume chart with 88.99million units traded while GTCO (+0.71%) led the value chart in deals worth N828.48million.

Market breadth closed negative at a 1.08-to-1 ratio with declining issues outnumbering advancing ones.

AFRIPRUD (-7.14%) topped thirteen (13) others on the laggard’s table, while ETERNA (+6.86%) led twelve (12) others on the leader’s table.