Equities market sustains Bull Run, gains N123.91bn
UBA New Executives at NGX 4: l-r: Group Company Secretary, UBA, Mr. Bili Odum; Executive Director Finance and Risk Management, UBA, Mr Ugo Nwaghodoh; Divisional Head(DH), Business Support Services, Nigerian Exchange Limited, Mrs Irene Robinson-Ayanwale; Deputy Managing Director, United Bank for Africa(UBA) Plc, Mr. Muyiwa Akinyemi; Director, Nigerian Exchange (NGX) Ltd , Erelu Angela Adebayo;; Chief Executive Officer, NGX, Mr. Temi Popoola and Group Managing Director/CEO, United Bank for Africa(UBA) Plc, Oliver Alawuba; Executive Director, North Bank, UBA, Ms Emem Usoro and DH, Capital Markets, NGX; and Executive Director/GCOO, UBA, Mr Alex Alozie, during the ceremonial strike of the closing gong at the floor of the Exchange by Alawuba in honour of recently appointed UBA’s executive management, on Wednesday in Lagos
Equities market sustains Bull Run, gains N123.91bn
The equities market of the Nigerian Exchange (NGX) for the third consecutive trading session on Tuesday, maintained the bull-run, as market capitalisation appreciated by N123.91billion to close at N24.47trillion as against N113.90billion recorded on Monday.
Also, the benchmark index gained 0.60 per cent to close at 44,929.33 points, compared to 44,701.84 points declared at the previous session. Consequently, the year-to-date (YTD) return rose to 5.18 per cent.
Analysis of today’s market activities showed trade buying interest in telco heavyweight, MTNN (+1.52%) and BUAFOODS (+1.27%) were the major drivers of the market’s positive performance.
Further breakdown of the statistics, also, showed that turnover settled higher relative to the previous session, with the value of transactions up by 97.51 per cent.
In fact, a total of 126.56m shares valued at N3.85billion were exchanged in 3,383 deals. ZENITHBANK (+1.84%) led the volume chart with 13.55m units traded while MTNN (+1.52%) led the value chart in deals worth N2.40billion.
Market breadth closed positive at a 6.75-to-1 ratio with advancing issues outnumbering declining ones. UPDCREIT (+10.00%) topped twenty-six (26) others on the gainer’s table, while PRESCO (-7.17%) led three (3) others on the laggard’s log.
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