Key indices of the Nigerian Exchange (NGX) recorded marginal growth on Wednesday, thereby stretching the positive sentiment to four consecutive trading sessions.<\/p>\n\n\n\n
The positive out-turn was due to bargain hunters\u2019 buying interest in both the industrial and banking sectors.<\/p>\n\n\n\n
Specifically, the All-Share Index inched higher by 9.84 points or 0.03 per cent to close at 38,927.83 from 38,917.99 on Tuesday.<\/p>\n\n\n\n
Accordingly, month-to-fate and year-to-date returns stood at 1.0 per cent and 3.3 per cent, respectively.<\/p>\n\n\n\n
Also, the market capitalisation rose by N5 billion or 0.03 per cent to close at N20.281 trillion against N20.276 trillion posted on Tuesday.<\/p>\n\n\n\n
The positive performance of the market was driven by price appreciation in large and medium capitalised stocks amongst which are; Presco, Cutix, Acess Bank, Vitafoam Nigeria and Lafarge Africa.<\/p>\n\n\n\n
Analysts at Afrinvest Ltd. said, \u201cIn the next trading session, we expect a positive performance in the market, as investors continue to engage in bargain hunting activities.\u201d<\/p>\n\n\n\n
However, the market closed negative with 19 losers as against 16 gainers.<\/p>\n\n\n\n
Cutix led the gainers\u2019 chart in percentage terms with 10 per cent to close at N5.50 per share.<\/p>\n\n\n\n
Veritas Kapital Assurance followed with a gain 8.70 per cent to close at 25k, while Tripple Gee went up by 7.78 per cent to close at 97k per share.<\/p>\n\n\n\n