Equity investors at the Nigerian Bourse may have seen buy opportunities in some value counters after over N800billion loss in May pushed many counters to record lows.
The newest move to buy equities helped reroute the market into the green zone on Wednesday after Tuesday’s negative close.
The Nigerian Exchange (NGX) Limited All Share Index (ASI) increased by 0.18percent while the market capitalisation gained N36billion.
At the close of trading session on Wednesday, the NGX ASI and market capitalisation increased from day-open lows of 38,414.37 points and N20.022trillion respectively to 38,482.52 points and N20.058trillion.
Read Also: Livestock Feeds boosts agricultural practice in Lagos school with poultry farm
Shares of University Press Plc gained most on the NGX, from N1.28 to N1.40, up by 12kobo or 9.38percent, while that of Computer Warehouse Group saw the highest dip, from N2.07 to N1.87, losing 20kobo or 9.66percent.
Except consumer goods (-0.13percent) and oil & gas sectors (-0.05percent), all other sectoral indices closed in green –NGX Banking (+0.02percent), NGX Industrial (+0.50percent), and NGX Insurance (+0.76percent).
The market’s year-to-date (ytd) negative return stood lower at -4.44percent. In 3,273 deals, equity dealers exchanged 156,905,684 units valued at N1.329billion. Japaul Gold, FBN Holdings, Transcorp, UACN, and Fidelity Bank were actively traded stocks.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
