• Sunday, February 25, 2024
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Buy-side activity pushes market’s return to 40.11% year-to-date

Equities market sets for negative weekly close despite early day gains

Investors decisions to stay more on the buy-side of the Nigerian Exchange Limited (NGX) has pushed higher, the equities market’s return year-to-date (YtD) to 40.11 percent.

The market on Wednesday recorded its second positive close this week, rising by 0.78 percent or about N305billion.

For the second time this week, FBN Holdings led the league of gainers after its share price rose from N26.75 to N29.40, adding N2.65 or 9.91 percent.

Read also: Equities market closes in green zone

It was also followed by Multiverse which increased from N7.07 to N7.77, up by 70kobo or 9.90 percent.

Also, Thomas Wyatt rose from day-open low of N3.02 to N3.32, up by 30kobo or 9.93 percent.

Read also: Equities rise by 0.43% as investors continue hunt for value

ETI went up, from N17.20 to N18.90, adding N1.70 or 9.88 percent, while Infinity Trust Mortgage Bank rose from N1.34 to N1.47, up by 13kobo or 9.70 percent.

Renewed bargain appetite on the Bourse ahead of yuletide pushed the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its equities market capitalisation to increase from preceding trading day’s lows 71,250.17 points and N38.989trillion to 71,808.64 points and N39.294 trillion.

The market closed Wednesday with 690,010,963 shares worth N12.10billion traded in 8,412 deals. GTCO, UBA, Fidelity Bank, Access Corporation and Universal Insurance were actively traded.