Nigerian equities market sustained its bullish momentum on Wednesday, as renewed investor interest pushed the All-Share Index (ASI) up by 0.50 percent to 145,719.09 basis points.

At the Nigerian Exchange (NGX), the bullish stance extended the Month-to-Date and Year-to-Date returns to 2.1 percent and 41.58 per cent, respectively.

Investors gained N459.43 billion as the market capitalisation closed at N92.49 trillion, reflecting sustained optimism around market fundamentals and anticipated third-quarter earnings reports.

On Wednesday, gains in MTN Nigeria, Fidelity Bank, and Zenith Bank were the major drivers of the day’s uptrend, cushioning losses in Dangote Sugar, SUNU Assurance, and LivingTrust Mortgage Bank.

Sectoral performance was broadly mixed. The Oil & Gas, Banking, and Commodity sectors recorded gains of 0.59 percent, 0.12 percent, and 0.31 percent, respectively, buoyed by strong demand for energy and financial stocks.

Conversely, the Insurance, Consumer Goods, and Industrial Goods indices declined by 0.75 percent, 0.01 percent, and 0.02 per cent, respectively, reflecting profit-taking and selective positioning ahead of earnings releases.

Despite the positive close, overall market sentiment was negative, with 33 laggards outpacing 29 gainers.

On the performance board, FTN Cocoa Processor, Livestock Feeds, Eterna, Prestige Insurance, and Fidelity Bank topped the gainers’ list, while Industrial Medical Gases, Living Trust Mortgage Bank, Sunu Assurance Nigeria, Chams, and Dangote Sugar led decliners.

Trading activity showed a mixed pattern as total volume traded rose by 3.61 percent to 525.73 million units, while the value of transactions dropped 43.95 per cent to N13.61 billion across 25,597 deals, suggesting fewer but larger trades dominated the session.

FBN Holdings emerged as the most traded stock by volume with 36.54 million units, while Guaranty Trust Holding Company led in value with N1.80 billion worth of trades.

Analysts believed the persistent uptrend underscores sustained investor confidence in blue-chip counters and resilient market liquidity despite macroeconomic headwinds. They expect the positive sentiment to linger in the near term, supported by attractive valuations and dividend expectations.

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