Amid renewed bargain hunting activity on Wednesday, the Nigerian equities market recorded its second gain for the week, and the third since the beginning of March.
Consequently, the All-Share Index rose by 0.63 per cent to 38,931.25 points.
Also, the market capitalisation advanced by 0.63 per cent to close at N20.37tn, leaving investors with a gain of N127.86bn.
The Year-to-Date loss of the ASI shrank to -3.32 per cent, even as the market breadth closed marginally positive to record 23 gainers and losers apiece.
Morison Industries led the gainers’ table with a price appreciation of 9.72 per cent, while Consolidated Hallmark Insurance topped the losers table with a maximum price depreciation of -10 per cent.
Specifically, blue chip stocks were the toast of investors, as share prices of Nestle, Dangote Cement and Seplat advanced by 1.85 per cent, 3.64 per cent and 0.02 per cent.
Sectoral performance was positive as three of the five indices tracked closed in the green territory.
The insurance, consumer goods and industrial indices rose by 0.18 per cent, 0.40 per cent and 0.74 per cent.
In contrast, the banking and oil and gas indices fell by 0.35 per cent and 0.02 per cent.
Meanwhile, trading activity was weak as total deals, volume and value of stocks traded fell.
Thus, the total volume of trade declined by 24.85 per cent to 368.21 million units valued at N4.91bn in 4,437 deals.
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