After several days of bearish trading, the Nigerian Exchange Limited closed flat on Wednesday, with the All‑Share index ending at 51,953.41 points. Year‑to‑date returns stood at 1.37 percent, and market capitalisation was N28.300 trillion.
Trade turnover declined sharply compared with the previous session. The volume of transactions fell by 85.19 percent and the value of transactions dropped by 62.68 percent, with 255,160,869 shares—valued at N1.79 billion—exchanged in 3,890 deals.
Most tracked indices posted modest gains. The insurance, consumer and industrial goods indices rose by 0.31 percent, 0.19 percent and 0.01 percent, respectively, driven by buying interest in AIICO (+3.51 percent), INTBREW (+7.41 percent) and CUTIX (+3.60 percent). Conversely, the banking index slipped 0.09 percent due to sell pressure on UBA (‑1.17 percent) and FBNH (‑0.90 percent).
In terms of volume, Transcorp led with 117.53 million units traded, while Zenith Bank topped the value chart, accounting for N290.04 million in deals (11.38 million units). Investor sentiment, measured by market breadth, improved, showing 18 gainers against 11 decliners.
Analysts at SCM Capital Limited cautioned that “the current trend of mixed sentiments is likely to continue this week as the market looks for a major catalyst that could spark positive sentiment.”
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