Investors Gain N271.61bn as Banking Sector Boosts NGX ASI by 49bps

Samuel Mobolaji

Bullish sentiment dominated the Nigerian stocks market yesterday, as equities investors’ gained N271.61 billion, while the benchmark index extended its winning streak by 49bps from the previous session to close at 96,510.13 points.

Investor interest in Tier-1 banking tickers GTCO (+0.33%), ZENITHBANK (+0.13%), FBNH (+9.98%), UBA (+0.45%), and ACCESSCORP (+0.79%) drove the overall market’s performance, despite losses in TRANSCORP (-5.08%), DANGSUGAR (-4.40%), and NB (-1.75%).

As a result, the year-to-date (YTD) return rose to 29.07 per cent, while market capitalization gained N271.61 billion to close at N55.44 trillion.

Analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 45.08 per cent.

A total of 443.16 million shares valued at N5.64 billion were exchanged in 8,493 deals. VERISTASKAP (+0.72%) led the volume chart with 83.08 million units traded, while ACCESSCORP (+0.79%) led the value chart in deals worth N1.06 billion.

Market breadth closed positive at a 3.29-to-1 ratio, with advancing issues outnumbering declining ones. JBERGER (+10.00%) topped forty-five others on the leader’s log, while UPL (-9.58%) led thirteen others on the laggard’s table.