Stocks Market Extends Bullish Run By N267.42bn

Samuel Mobolaji

The equities market of the Nigerian Exchange Limited (NGX) at the mid-week further extended its bullish run for the fifth consecutive session, as the market capitalization gained N267.42billion to close at N28.37trillion.

Also, the Lagos bourse maintained the positive momentum with the benchmark index closing stronger by 0.95 per cent at

52,097.62 points.

Although, gains in AIRTELAFRI (+4.34%), MTNN (+0.44%) and ZENITHBANK (+2.27%) kept the market in the green and as a result, the All Share Index’s (ASI’s) year-to-date (YTD) return increased to 1.65 per cent.

However, while analysing yesterday’s market activities, statistics from the NGX showed that trade turnover settled higher relative to the previous session, with the value of transactions up by 120.04 per cent. A total of 6.48billion shares valued at N19.47billlon were exchanged in 5,109 deals.

Again, TRANSCORP (+9.67%) led the volume and value charts with 6.13billion units traded in deals worth N15.57billion.

Market breadth closed positive at a 6.5-to-1 ratio with advancing issues outnumbering declining ones. LIVESTOCK (+10.00%) and ACADEMY (+10.00%) topped thirty-seven (37) others on the leader’s log while FIDELTYBK (-6.57%) topped five (5) others on the laggard’s table.