Stocks Market Extends Bullish Trend, Up By N7.53bn
NGX
Samuel Mobolaji
The equities market of the Nigerian Exchange Limited (NGX) on Thursday extended its bullish trend, as the market capitalization rose by N7.53billion to close at N29.70trillion from the previous close of N29.69trillion and N29.68 trillion declared on Tuesday.
Although, activity on the Lagos bourse was mixed, albeit with a bullish tilt as the benchmark index closed marginally higher (+0.02%) at 54,520.20 points
Gains in ZENITHBANK (+0.59%), GTCO (+0.20%) and NB (+1.23%) offset the declines in WAPCO (-2.44%) and FBNH (-0.43%). Subsequently, the market remains on track for a weekly gain.
The year-to-date (YTD) return rose to 6.38 per cent, even as the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 17.28 per cent.
A total of 125.86million shares valued at N3.60billion were exchanged in 2,670 deals. GTCO (+0.20%) led the volume chart with 19.17million units traded while DANGCEM (+0.00%) led the value chart in deals worth N1.95billion.
Market breadth closed negative at a 1.18-to-1 ratio with declining issues outnumbering advancing ones. COURTVILLE (-9.62%) topped twelve (12) others on the laggard’s log while JAPAULGOLD (+7.14%) led ten (10) others on the leader’s table.
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