The local bourse on Wednesday sustained positive sentiment on third consecutive trading session as the market capitalisation gained N181bn.
The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.83 per cent as market sentiments extended gaining streaks following investors’ sustained optimism on undervalued stocks.
The market breadth closed positive as gainers at the close of trading session was 35 while decliners closed at 21.
Consequently, the All-Share Index rose by 345.79 basis points or 0.83 per cent to close at 41,930.73 index points as against 41,584.94 recorded the previous day.
Market capitalisation of equities appreciated by N181bn or 0.83 per cent to close higher at N21.93tn from N21.75tn as market sentiment remained on the green territory.
Meanwhile, a turnover of 543.75 million shares in 6,773 deals was recorded in the day’s trading.
The premium sub-sector was the most active (measured by turnover volume); with 150.51m shares exchanged by investors in 567 deals.
Volume in the sub-sector was driven by activities in the shares of Zenith Bank Plc and FBNH Plc.
The insurance sub-sector boosted by the activities in the shares of Mutual Benefits Assurance Plc and AXA-Mansard Assurance Plc followed with a turnover of 85.29m shares in 567 deals.
The number of gainers at the close of trading session was 35 while decliners closed at 21.
Further analysis of the day’s trading showed that CHI Plc and Guinea Insurance Plc led the gainers’ table with 10 per cent each to close at 44 kobo and 22 kobo per share respectively while Fidson Healthcare Plc followed with 9.90 per cent to close at N5.55 per share and Champion Breweries Plc with a gain of 9.79 per cent to close at N2.58 per share.
On the flip side, Sky Aviation Company Plc led the losers’ chart with a drop of 10 per cent to close at N2.88 per share.
Cornerstone Insurance Plc followed with a loss of 9.72 per cent to close at 65 kobo per share while Caverton Plc dropped by 9.41 per cent to close at N1.83 per share.