The benchmark index of the Nigerian Exchange Limited, All-Share Index rose 0.55 percent on Wednesday to 72,299.79 points, thus surpassing 72,000 basis points for the first time in history.

This occurred as trading activities on NGX entered its fourth day of positive trading, which resulted in a gain of N415 billion for investors in the stock market.

On November 1, the ASI crossed the 70,000 mark to close at 70,581.76. This came after days of sustained bullish trading. So far, ASI's year-to-date gain has risen above 40 percent.

At the close of trading on Wednesday, market capitalization increased by 0.55% to close at N39.563 trillion; meaning that N215 billion was added to the wealth of investors.

Analysts have been projecting a recovery from Santa Claus as the year comes to a close and a repositioning into solid stocks by investors ahead of the next earnings season.

Market breadth, which is a measure of investor sentiment, was positive, resulting in 34 winners and 16 losers.

Transaction volume increased to 433.180 million from 319.56 million trades valued at N8.08 billion from 6,650 trades executed. The number of shares traded at the end of Wednesday's trading session closed at 119.

Sectoral performance was mixed, with two of the five indices tracked ending in green, two remaining relatively stable and one posting losses. The banking and consumer goods indices led the gains, advancing 0.94 percent and 0.07 percent, respectively. In contrast, the Insurance sector faced a decline, dropping 1.80 percent, while the Oil and Gas and Industrial Goods indices remained stable compared to the previous session.

Topping the gainers chart were shares of SCOA, Infinity Trust Mortgage Bank, AccessCorp, Cornerstone Insurance and Transcorp Hotel, which gained 9.88 percent, 9.86 percent, 8.09 percent, 7.41 percent and 6.83 percent to close at N1.78, N2.34, N22.05, N1.45 and 46.90 per unit respectively.

The losers were led by University Press Plc, Sunu Assurance, Regency Alliance Insurance, Eterna and Flour Mills with -9.82 percent, -9.38 percent, -8.11 percent, -8.03 percent and 4 .57 percent loss each.

The day's market trend volume and value drivers were led by banking stocks AccessCorp, GTCO, Zenith Bank, United Bank for Africa and Sterling Financial Holdings. NAHCO stock also reached the top of the turnover chart.

Source