Equities Market Extends Bullish Run, Gains N113.07b

The equities market of the Nigerian Exchange Limited (NGX), on Wednesday extended its gaining streak for the second consecutive session as the market capitalization increased by N113.07billion to close at N39.05trillion, stronger than N38.94trillion posted on Tuesday and N38.80trillion recorded on Monday.

The Lagos bourse benchmark index, also, ended 0.25 per cent stronger to close at 71,014.34 points, compare to 70,840.72 points closed on Tuesday and 70,608.02 points declared on first trading day of the week.

Closing statistics from the NGX, indicated that 0.21 per cent gains in MTNN, BUACEMENT gains of 1.96 per cent and GTCO gains of 1.93 per cent outweighed losses of 1.89 per cent in ZENITHBANK, DANGSUGAR 0.16 per cent and UBA 0.48 per cent.

As a result, the All Share Index (ASI) Year-To-Date (YTD) rose to 38.56 per cent,

Analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 82.89 per cent.

A total of 297.35m shares valued at N6.16billion were exchanged in 6,172 deals. OANDO (+10.00%) led the volume chart with 27.97millon units while NESTLE (+2.44%) led the value chart in deals worth N2.34billion.

Market breadth closed positive at a 1.67-to-1 ratio with advancing issues outnumbering declining ones. OANDO (+10.00%), topped 21 others on the leader’s table, while SOVRENINS (-8.82%) led 14 others on the laggard’s table.