Equities market gains N100.65bn on first trading day


By Temitope Adebayo

The equities market of the Nigerian Exchange Limited (NGX) began the weekly trading with a bullish outing, as the market capitalisation gained N100.65 billion to close at N55.84 trillion.

Specifically, the local bourse opened the week with the benchmark index closing stronger by 0.18 per cent to settle at 102,042.32 points.

This was due to buy interests in BUAFOODS (+1.05%), GEREGU (+6.75%) and ZENITHBANK (+0.14%) outweighed selloffs in GTCO (-0.37%), UBA (-1.18%) and ACCESSCORP (-6.26%), leaving the market in the green.

Consequently, the year-to-date (YTD) return rose to 36.47 per cent, while analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 30.31 per cent.

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A total of 242.43bn shares valued at N5.13 billion were exchanged in 8,715 deals. ACCESSCORP (-6.26%) led the volume chart with 24.90 million units traded while GTCO (-0.37%) led the value chart with deals worth N841.25 million.

Market breadth closed positive at a 1.30-to-1 ratio with advancing issues outnumbering the declining ones. CHAMS (+10.00%) topped twenty-nine (29) others on the leader’s table while INFINITY (-9.90%) led twenty-two (22) others on the laggard’s log.

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