NGX ASI Extends Gains as Market Cap Up N131bn

The Nigerian Exchange (NGX) All-Share Index (ASI) continued its upward momentum yesterday, closing 0.23 per cent higher at 100,299.48 points.

Also, the market capitalization grew by N131.08 billion, reaching N56.74 trillion, which was driven by sustained investor interest in key stocks such as Guaranty Trust Holding Company (GTCO) (+2.61%), Zenith Bank (ZENITHBANK) (+0.42%), and renewed interest in First Bank of Nigeria Holdings (FBNH) (+4.55%).

As a result, the year-to-date (YTD) return has increased to 34.14 percent, while analysis of the mid-week trading activities showed a higher trade turnover compared to the previous session, with the value of transactions rising by 15.47 percent.

A total of 342.20 million shares valued at N4.75 billion were exchanged in 7,592 deals. Fidelity Bank (FIDELITYBK) (+1.50%) led both the volume and value charts, with 137.64 million units traded in deals worth N1.42 billion.

Market breadth closed positively at a 1.47-to-1 ratio, with advancing issues outnumbering declining ones. Cornerstone Insurance (CORNERST) (+9.57%) topped twenty-seven gainers, while University Press Limited (UPL) (-10.00%) led eighteen losers.