NGX Sustains Bullish Run, Gains N271.49bn
Samuel Mobolaji
The equities market of the Nigerian Exchange Limited (NGX) on Thursday extended the bullish run as the market capitalization gained N271.49billion to close at N29.41 trillion.
Also, the benchmark index gained 0.93 per cent to settle at 53,998.12 points, the highest point since 27th May 2022.
The local bourse data, showed that gains in MTNN (+3.78%) and SEPLAT (+9.50%) kept the market in the positive territory, offsetting losses in ZENITHBANK (-1.57%) and ACCESSCORP (-0.55%).
The gain puts the index on track for its fourth consecutive weekly gain since the week ended 13 January. Consequently, the ASI’s year-to-date (YTD) return rose to 5.36 per cent.
Analysis of the yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 46.08 per cent.
A total of 2.87billion shares valued at N8.07billion were exchanged in 3,940 deals. AIICO (+0.00%) led the volume chart with 14.00million units traded, while AIRTELAFRI (+0.00%) led the value chart in deals worth N3.49billion.
Market breadth closed positive at a 2.10-to-1 ratio with advancing issues outnumbering declining ones. SEPLAT (+9.50%) topped twenty (20) others on the gainer’s table, while MBENEFIT (-7.69%) led nine (9) others on the leader’s log.
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