By Temitope Adebayo
The equities market of the Nigerian Exchange Limited (NGX) on Wednesday sustained its gaining streak as the market capitalization rose by N507.60billion to close at N40.16trillion.
The market All Share Index (ASI), also, continued the bull run as the benchmark index gained 1.28 per cent to settle at 73,397.71 points.
Interests in telco heavyweight AIRTELAFRI (+4.87%), tier 1 banks namely ZENITHBANK (+1.99%) and GTCO (+0.76%) kept the market in the green, outweighing losses in DANGSUGAR (-0.96%), FBNH (-0.43%), and ETI (-7.71%).
Consequently, the year-to-date (YTD) return rose to 43.21 per cent, while analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 84.62 per cent.
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A total of 554.64m shares valued at ₦12.83billion were exchanged in 7,910 deals. GTCO (+0.76%) led both the volume and value charts with 89.45m units traded in deals worth N3.58billion.Market breadth closed positive at a 1.64-to-1 ratio with advancing issues outnumbering the declining ones. MULTIVERSE (+10.00%) topped thirty-five (35) others on the leader’s table while TANTALIZER (-10.00%) led twenty-one (21) others on the laggard’s log.
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