Stocks Market Extends Gain By N32bn

At the close of trading activities on the floor of the Nigerian Exchange (NGX) on Wednesday, the equities market appreciated by N32.27billion to close at N26.95trillion, as bulls continued to dominate the local bourse

This is even as the All Share Index (ASI) increased by 0.11 per cent to close at 49,475.43 points, the highest point since 15th of September, 2022.

Analysis of the trading activities showed that sustained interests in Tier-1 banking stocks, such as; ZENITHBANK (+0.21%), GTCO (+1.85%) and FBNH (+3.74%) drove the market’s positive performance, offsetting losses in ACCESSCORP (-0.58%) and GEREGU (-0.94%).

Consequently, the year-to-date (YTD) return rose to 15.82 per cent. However, statistics from the NGX, indicated that trade turnover settled higher relative to the previous session, with the value of transactions up by 389.87per cent.

A total of 411.15m shares valued at N6.35 billion were exchanged in 2,992 deals. UPDCREIT (-1.59%) led the volume chart with 245.33m units traded, while GEREGU (-0.94%) led the value charts in deals worth ₦2.63bollion.

Market breadth closed positive at a 1.64-to-1 ratio, with advancing issues outnumbering declining ones.

UPL (+9.83%) topped seventeen (17) others on the gainer’s log, while JAPAULGOLD (-3.70%) led ten (10) others on the laggard’s table.