By John Ikani
Nigeria’s local stock market continued its upward trend for the third consecutive trading session this week, with the benchmark index edging up by 0.23% on Wednesday.
The All-Share Index saw a 0.23% appreciation, closing at 70,773.31 points, surpassing the previous day’s 70,613.60 points.
This led to a year-to-date gain of 38.09%, propelling the market capitalization of listed equities to N38.89 trillion.
The day’s trading activities resulted in 28 gainers and 24 losers.
JAPAULGOLD, MECURE, PRESTIGE, CORNERST, and OMATEK saw increased investor interest, with their share prices surging by 9.87%, 9.80%, 9.76%, 9.72%, and 9.62%, respectively, indicating a bullish market sentiment.
On the other side, CAVERTON, MEYER, SCOA, THOMASWY, and UPDC experienced declines in their share prices by 9.87%, 9.85%, 9.60%, 8.60%, and 8.26%, respectively.
Market activity witnessed a further boost, with the total traded volume and value for the day rising by 24.27% and 79.88% to 558.34 million units and N9.79 billion. However, the total deals for the day decreased by 9.85% to 6,401 trades.
FBNH remained the most traded security for the second consecutive day in terms of volume and value, with 209.8 million units worth N4.04 billion traded during the midweek session, changing hands in 196 deals.
