Equities market Extends Bullish Rally By N111.16bn
The equities market of Nigerian Exchange Limited (NGX) extended its bullish run to nine-day winning streak as the market capitalization gained N111.16billion to close at N27.18trillion.
The local bourse, opened yesterday after two the holiday, while the benchmark index also appreciated by 0.41 per cent to settle at 49,910.18 points.
Gains in NESTLE (+2.04%), GEREGU (+9.96%) and GTCO (+3.79%) sustained the market’s bullish momentum. As a result, the year-to-date (YTD) return rose to 16.84% while analysis of the market activities showed a trade turnover settled lower relative to the previous session, with the value of transactions down by 4.77 per cent. A total of 486.67m shares valued at N3.83billion were exchanged in 3,875 deals.
ACCESSCORP (+0.58%) led the volume chart with 28.93m units traded, while GEREGU (+9.96%) led the value chart in deals worth N1.03billion.
Market breadth closed positive at a 5.50-to-1 ratio with advancing issues outnumbering declining ones. CORNERST (+10.00%) topped twenty-one (21) others on the gainer’s log, while FTNCOCOA (-3.45%) led three (3) others on the laggard’s table.
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