By Chinyere Joel-Nwokeoma
The key market indices of the Nigerian Exchange (NGX) Ltd. on Wednesday extended gaining streak to four consecutive trading sessions, appreciating further by 0.29 per cent.
The performance was as a result of investors interests in Guaranty Trust Bank and Lafarge Africa.
Specifically, the All-Share Index rose by 112.76 points or 0.29 per cent to 39,128.34 compared with 39,015.58 posted on Tuesday.
Consequently, the month-to-date gain turned positive to 0.2 per cent, while the year-to-date loss moderated to 2.8 per cent.
Market analysts attributed the performance to renewed confidence as bargain hunters continue to leverage low-priced fundamentally viable stocks, amidst first quarter corporate results.
The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are Conoil, Lafarge Africa, Guaranty Trust Bank, Eterna and Union Bank of Nigeria.
As measured by market breadth, market sentiment was positive, as 22 stocks gained, relative to 21 losers.
Conoil recorded the highest price gain to lead the gainers chart in percentage gains, improving by 9.97 per cent to close at N18.75 per share.
Studio Press followed with 9.88 per cent to close at N1.78, while Eterna rose by 9.48 per cent to close at N6.35 per share.
University Press grew by 9.40 per cent to close at N1.28, while Lafarge Africa appreciated by 6.83 per cent to close at N21.90 per share.
On the other hand, Guinness Nigeria led the losers chart in percentage terms, losing 9.89 per cent to close at N28.70 per share.
Portland Paints