Stocks market extends gains N251.06bn

Stocks market extends gains N251.06bn

The equities market of the Nigerian Exchange Limited (NGX) on Thursday extended the bullish run as market capitalisation further gained N251.06billion, amid investors’ interest in AIRTELAFRI (+0.37%) and DANGCEM (+7.77%), who were the primary drivers of the market’s overall performance.

Specifically, yesterday’s trading activities ended with the benchmark index gaining 1.06 per cent to settle at 43,939.68 points. Nevertheless, the market remains on track for its first week of loss in the month, offsetting past week gains.

Consequently, the ASI’s year-to-date (YTD) return rose to 2.86 per cent, while the market capitalisation gained N251.06billion to close at N23.94trillion.

Analysis of the market activities showed that trade turnover settled higher relative to the previous session, with the value of transactions up by 71.01 per cent. A total of 405.00million shares valued at N3.10billion were exchanged in 3,188 deals.

However, STERLNBANK (+0.00%) led the volume chart with 171.15m units traded while AIRTELAFRI (+0.37%) led the value chart in deals worth N700.25million.

Market breadth closed positive at a 1.08-to-1 ratio with advancing issues outnumbering declining ones. COURTVILLE (+8.70%) topped thirteen (13) others on the gainer’s table, while JBERGER (-9.81%) led twelve (12) others on the laggard’s log.