Equities Market Sustains Gaining Streak, Up N13.07bn

The equities market of the Nigerian Exchange (NGX) on Thursday sustained its gaining streak to seventh consecutive session gain of N13.07 billion.

Yesterday’s trading activities on the floor of the NGX ended with the bullish sentiment pervaded the Lagos bourse as the benchmark index posted a 0.05 per cent gain to close at 49,499.43 points, the highest point since 15 September.

As a result the year-to-date (YTD) return rose to 15.88 per cent, while the market capitalization gained ₦13.07billion to close at ₦26.96trillion.

Gains in GTCO (+0.45%), FBNH (+4.05%) and STANBIC (+3.90%) drove the market’s positive performance, outweighing losses in DANGCEM (-0.50%), ZENITHBANK (-0.82%) and NB (-0.53%).

Analysis of the market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 50.47 per cent.

A total of 132.57m shares valued at ₦3.14 billion were exchanged in 2,999 deals. FBNH (+4.05%) led the volume chart with 29.10million units traded, while AIRTELAFRI (+0.00%) led the value charts in deals worth N925.10m.

Market breadth closed positive at a 1.08-to-1 ratio with advancing issues outnumbering declining ones.

JBERGER (+9.91%) topped thirteen (13) others on the gainer’s log, while UPDCREIT (-6.45%) led twelve (12) others on the laggard’s table.