Stocks market extends its bullish run, gains N32.57bn
By Joy Obakeye
Temitope The equities segment of the Nigerian Exchange (NGX) on Wednesday extended its strong bullish run as the market capitalisation gained N32.57 billion to close at N26.38 trillion.
At the close of yesterday’s trading activities, the benchmark index inched up by 0.12 per cent to close at 48,426.49 points, the highest point since 05 October 2022.
This was because investors showed interest in NESTLE (+1.67%), NB (+4.62%) and GEREGU (+2.78%) offset losses in ZENITHBANK (-0.23%), GTCO (-0.24%) and UBA (-0.68%).
Consequently, the year-to-date (YTD) return rose to 13.37 per cent, while market capitalisation gained N32.57billion to close at N26.38trillion.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 5.55 per cent.
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A total of 146.21million shares valued at N3.36billion were exchanged in 2,810 deals. FBNH (+0.00%), led the volume chart with 59.27m units traded, while GEREGU (+2.78%) led the value chart in deals worth N1.53billion.
Market breadth closed negative at a 1.45-to-1 ratio with declining issues outnumbering advancing ones. UNITYBNK (-7.02%) topped fifteen (15) others on the laggard’s table, while JAPAULGOLD (+7.41%) led ten (10) others on the gainer’s log.
