Business and Economy

NGX All-Share Index recoups losses on Wednesday as it gains 0.39% – Coronation Securities

In the last trading session of the month, Nigerian equities staged a rebound, recouping prior session losses as the benchmark index ended 0.39% stronger to settle at 49,836.51 points, the highest point since 11 August. Gains in BUAFOODS (+4.48%), FBNH (+2.29%), ACCESSCORP (+1.84%) and WAPCO (+4.60%) were the primary drivers of the broader index’s recovery. As a result, the ASI’s year-to-date (YTD) return rose to 16.67%, while the market capitalisation gained ₦104.54bn to close at ₦26.88trn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 5.35%. A total of 367.34m shares valued at ₦3.24bn were exchanged in 3,725 deals. STERLNBANK (+1.97%) led the volume chart with 162.45m units traded, while MTNN (+0.00%), for the second straight session, led the value chart in deals worth ₦873.29bn.

Market breadth closed positive at a 1.82-to-1 ratio, with advancing issues outnumbering declining ones. GUINNESS (+9.88) topped nineteen (19) others on the leader’s log, while CHIPLC (-7.69%) led ten (10) others on the laggard’s table. Find below key highlights of market activities

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