NSE records positive performance, investors gain N134.5bn

The Nigerian Stock Exchange (NSE) recorded a positive performance for the first time in the week as the all-share index (ASI) settled at 24,141.48 points on Wednesday.

Consequently, investors gained N134.5 billion and market capitalisation advanced to N13.11 trillion while month-to-date (MTD) advanced to 1.8 percent.

Year-to-date (YTD) loss moderated to -6.3 percent from -7.3 percent on Tuesday.

Activity level was mixed as volume traded fell 0.8 percent to 204.9 million units while value traded rose 54.8 percent to N3.8 billion in 3,636 deals.

Compared to Tuesday, activity level improved as volume and value traded appreciated to 206.0 million units and N2.5 billion respectively in 3,925 deals.

The top traded stocks by volume were Guaranty Trust Bank (66.3 million units), Access Bank (24.0 million units) and Zenith Bank (15.2m units).

The top traded stocks by value were Guaranty Trust Bank (N1.6 billion), Okomu Oil (N418.6 million) and Airtel Africa (N321.0 million).

Performance across sectors was bullish as three of five indices under the top five NSE stocks gained.

The oil & gas sector was up by 5.2 percent due to buying interest in Seplat Petroleum (10.0 percent)

The insurance and consumer goods indices trailed, gaining 0.6 percent and 0.2 percent, respectively, owing to gains in AIICO Insurance (0.1 percent) and Guinness (6.2 percent).

Conversely, losses in Access Bank (-0.2 percent), Zenith Bank (-0.1 percent) and BUA Cement (-0.3 percent) saw the banking and industrial goods indices dragged by 0.4 percent and 0.3 percent respectively.

Market breadth expanded as 18 stocks gained against the 11 decliners.

The top gainers were Seplat Petroleum, Cadbury and Airtel Africa, while Champion, Consolidated Hallmark Insurance and Mutual Benefits Assurance lost the most.