Stocks Market Extends Bullish Run By N102.4bn


Samuel Mobolaji

The equities market of the Nigerian Exchange Limited (NGX) on Tuesday extended the bullish run for the second trading session this week, as the market capitalization gained N102.39 billion to close at N28.54 trillion, compared to N28.44 trillion recorded on Monday.

The Lagos bourse ended with the benchmark index up by 0.36 per cent to settle at 52,419.33 points.

Statistics from the NGX showed that gains in Tier-1 banking names ZENITHBANK (+1.45%), GTCO (+4.15%) and ACCESSCORP (+1.50%) were the main drivers of the market’s overall performance.

Consequently, the year-to-date (YTD) return rose to 2.28 per cent while analysis of yesterday’s market activities, showed trade turnover settled higher relative to the previous session, with the value of transactions up by 21.25 per cent.

A total of 576.85m shares valued at N6.79billion were exchanged in 6,143 deals. UBA (+2.38%) led the volume chart with 94.31million units traded, while ZENITHBANK (+1.45%) led the value chart in deals worth N1.40 billion.

Market breadth closed positive at a 1.50-to-1 ratio with advancing issues outnumbering declining ones. NB (+9.97%) led twenty-three (23) others on the leader’s log while COURTVILLE (-6.52%) topped fifteen (15) others on the laggard’s table.

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