NGX All-Share Index gains 0.55% on Wednesday

Nigerian equities recovered as the benchmark Index rose by 0.55% to settle at 44,050.44 points. Bullish sentiment in telco heavyweights, MTNN (+0.32%), BUAFOODS (+0.80%) and ZENITHBANK (+8.46%) drove the market’s rebound. Consequently, the year-to-date (YTD) return rose to 3.12%, with market capitalisation gaining ₦131.92bn to close at ₦23.99trn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 141.12%. A total of 159.44m shares valued at ₦2.86bn were exchanged in 3,039 deals. FIDELITYBK (-1.95%) led the volume chart with 27.95m units traded while AIRTELAFRI (+0.00%) led the value chart in deals worth ₦626.62m.

Market breadth closed flat. CORNERST (+10.00%) topped eighteen (18) others on the gainer’s table, while ETERNA (-10.00%) led eighteen (18) others on the laggard’s log.