Stock Market Report: All-Share Index inched higher by 0.7%

Sentiments in the local bourse turned positive as the All-Share Index inched higher by 0.7% to close at 47,660.04 points. Wednesday’s performance was supported by bargain hunting in top telecommunications player – MTNN (+3.8%). Consequently, the Month-to-Date and Year-to-Date returns increased to +8.7% and +11.6%, respectively.
 
The total volume traded declined by 11.5% to 107.02 million units, valued at NGN1.32 billion, and exchanged in 3,227 deals. FBNH was the most traded stock by volume at 12.53 million units, while ZENITHBANK was the most traded stock by value at NGN174.55 million.
 
On sectors, the Consumer Goods (-0.8%) and Insurance (-0.6%) indices printed losses, while the Industrial Goods and Oil & Gas indices closed flat. The Banking (+1.8%) index was the sole gainer of the day.
 
As measured by market breadth, market sentiment was positive (3.0x) as 21 tickers gained relative to 7 losers. WEMABANK (+10.0%) and UACN (+10.0%) recorded the most significant gains of the day, while ROYALEX (-10.0%) and REDSTAREX (-9.3%) topped the losers’ list.