Investors Gain N307bn as NGX Extends Rally, ASI up 0.45%

Samuel Mobolaji

Investors on the Nigerian Exchange (NGX) recorded a N307.16 billion gain yesterday as the market sustained its bullish momentum, lifting the All-Share Index by 0.45 per cent to close at 108,849.83 points.

The positive outing, driven by strong performances in GTCO (+3.85%), ZENITHBANK (+2.08%) and HONYFLOUR (+9.81%), pushed the year-to-date return to 5.76 per cent and raised the market capitalisation to N68.41 trillion.

Trading activity improved as the value of transactions climbed 32.25 per cent, with 587.47 million shares worth N18.66 billion exchanged in 17,496 deals. GTCO led both the volume and value charts, trading 98.64 million units valued at N6.57 billion.

The market breadth remained firmly positive, with over three gainers for every loser. MEYER topped the gainers’ list with a 10 per cent increase, while DEAPCAP led the losers, shedding 10 per cent.

Meanwhile, the NASD OTC market recovered mildly from its previous dip, with the NSI gaining 10 basis points. However, investor interest appeared subdued as trade volume fell 76.70 per cent to 593,323 units and value dropped 48.60 per cent to N17.82 million.