Market Index Extends Bullish Run, up 0.70% as Investors Gain N403.69bn

The equities market began this week’s trading activities on a bullish note as the market benchmark index appreciated by 0.70 per cent, while investors gained a whopping N403.69 billion.

Opening the week, the domestic bourse extended gains from last week, seeing the All Share Index (ASI) close 0.70 per cent stronger to settle at 102,044.84 points.

Also, the market capitalisation gained N403.69billion to close at N57.70trillion, due to interest in TRANSPOWER, which gained 4.98 per cent, GTCO’s 1.95 per cent rise, and ZENITHBANK’s 6.47 gain that kept the market in the green, outweighing selloffs in FBNH decline of 1.23 per cent, OANDO (-5.00%) and STERLINGNG (-1.05%).

As a result, the year-to-date (YTD) return rose to 36.47 per cent, while market activities showed that trade turnover settled lower relative to the previous session, with transactions down by 13.98 per cent.

A total of 436.90 million shares valued at N17.09 billion were exchanged in 11,344 deals. GTCO (+1.95%) led the volume chart with 96.63 million units traded, while TRANSPOWER (+4.98%) led the value chat with deals worth N5.93 billion.

Market breadth closed positive at a 2.13-to-1 ratio with advancing issues outnumbering the declining ones. HONYFLOUR (+10.00%) topped 33 others on the leader’s table while PRESTIGE (-10.00%) led 15 others on the laggard’s log.