NGX extends bullish run as investors gain N34bn
By Temitope Adebayo
Trading activities on the Nigerian Exchange (NGX) closed yesterday’s session with a gain of N34 billion in market capitalization, as bulls maintained their grip on the local bourse.
Gains in BUAFOODS (+2.10%), ZENITHBANK (+0.42%) and GTCO (+1.08%) offset losses in BUACEMENT (-1.79%), FBNH (-1.78%) and ACCESSCORP (-0.57%), keeping the market in the green.
Specifically, the benchmark index posted a 0.12 per cent gain to settle at 51,657.56 points. As a result, the year-to-date (YTD) return rose to 0.79 per cent, while market capitalization gained N33.71billion to close at N28.14trillion.
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Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 211.02 per cent.
A total of 265.73million shares valued at N13.53bn were exchanged in 4,156 deals. BUACEMENT (-1.79%) led the volume chart and value chart with 101.65million units traded in deals worth N9.85billion.
Market breadth closed positive at a 1.64-to-1 ratio with advancing issues outnumbering declining ones.
NAHCO (+10.00%) led seventeen (17) others on the gainer’s log, while CHAMPION (-10.00%) topped ten (10) others on the laggard’s table.
