Equities Investors Extend Gaining streak by N62.03bn
NGX
Samuel Mobolaji
The Nigerian Exchange (NGX) continued its bullish trajectory for the third consecutive session, as the market capitalization grew by N62.03 billion, closing at N56.67 trillion.
Also, the All-Share Index (ASI) rose by 0.11 per cent to close at 100,075.59 points.
This upward movement was primarily driven by sustained buying interest in Tier-1 banking stocks, including ZENITHBANK (+2.56 per cent), FBNH (+1.11 per cent), and UBA (+0.66 per cent).
These gains successfully offset losses in STANBIC (-1.47 per cent), DANGSUGAR (-0.48 per cent), and TRANSCORP (-1.25 per cent).
As a result, the year-to-date (YTD) return increased to 33.84 per cent, while yesterday’s market activities showed an increase in trade turnover, with the total value of transactions rising by 0.78 per cent compared to the previous session.
Consequently, a total of 368.39 million shares valued at N7.42 billion were exchanged in 8,151 deals.
ZENITHBANK led both the volume and value charts, with 57.42 million units traded in deals worth N2.25 billion.
Market breadth closed positively at a ratio of 1.36-to-1, with advancing issues outnumbering declining ones. UCAP (+10.00 per cent) topped the gainers’ list, followed by eighteen others, while REDSTAREX (-9.82 per cent) led the losers’ list, followed by thirteen others.
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