The Local bourse on Wednesday sustained its gaining streak, bringing the benchmark index up 2.38% to settle at a historic 90,063.27 bssis points, as investors continued to take position in fundamental stocks
Specifically, continued buy interests in industrial heavyweights as DangCem (+9.86%), BUACem(+9.99%) alongside Geregu (+9.94%) kept the market strong in the green, outweighing selloffs in Zenithbank (-1.42%), GTCO (-1.80%) and DangSugar (-9.95%)
Consequently, YTD return improved to 20.4% (previously: 17.6%) while market capitalisation advanced
by ₦1.1tn to ₦49.2tn.
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The market activity level strengthened as both volume and value traded improved 21.6% and
3.8% to 1.2bn units and ₦16.3bn, respectively.
However, investor sentiment, as measured by market breadth, dampened to 0.29x from 1.97x in the prior session as 47 stocks advanced, 35 declined while 42 closed flat.
Some analysts have expressed optimism that Thursday’s trading will see market continuing its
bullish performance baring any negative shock.