NGX index edges higher as investors gain N487.74bn
By Temitope Adebayo
For the fourth consecutive session this week, the benchmark index of Nigerian Exchange Limited (NGX) on Thursday continued its positive run, as investors gained a whopping N487.74billion.
With this development, the Lagos bourse is on track for another week of gains. Specifically, the All Share Index (ASI) closed yesterday’s session up 1.21 percent to settle at 74,289.02 points, while the market capitalisation gained 487.74billion to close at N40.65trillion.
Sustained interest in telco heavyweight MTNN (+5.40%), and tier-1 banks, namely ZENITHBANK (+0.39%), and UBA (+2.97%), drove the market into positive terrain offsetting losses in NESTLE (-1.74%), DANGSUGAR (-0.62%) and ETI (-0.24%).
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As a result, the year-to-date (YTD) return rose to 44.95 per cent, while analysis of yesterday’s market activities show trade turnover settling higher relative to the previous session, with the value of transactions up by 1.54 per cent.
A total of 760.93million shares valued at N13.03billion were exchanged in 7,990 deals. ABBEYBDS (+9.09%) led the volume with 224.08million units traded while NESTLE (-1.74%) led the value chart with deals worth N2.65billion. Market breadth closed positive at a 2.82-to-1 ratio with advancing issues outnumbering the declining ones. TRANSCORP (+10.00%) topped forty-seven (47) others on the leader’s table while JOHNHOLT (-10.00%) led sixteen (16) others on the laggard’s log.
