Stocks market up N393.54bn over gains in MTNN, ZENITHBANK, GEREGU
By Motolani Oseni
The equities market of the Nigerian Exchange Limited (NGX) on Tuesday extended its winning streak for the fourth consecutive session by N393.54 billion, due to gains in MTN Nigeria, Zenith Bank Plc and GEREGU shares.
The Lagos bourse maintained the positive momentum as the market capitalization appreciated by N393.54 billion to close at N35.93trillion, as against N35.54trillion closing figure on Monday.
Also, the benchmark index , All Share Index ( ASI) closed 1.11 per cent stronger at 65,991.02 points, compared to 65,268.28 points recorded at the previous trading session.
Specifically, gains in MTNN (+5.52%), ZENITHBANK (+0.86%), and GEREGU (+3.60%) kept the market in the green offsetting losses in STANBIC (-2.10%), WAPCO (-2.61%), and NB (-3.78%).
As a result, the ASI’s year-to-date (YTD) return increased to 28.76 per cent.
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Analysis of yesterday’s market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 42.62 per cent.
Consequently, a total of 553.52million shares valued at N7.42billion were exchanged in 8,313 deals. JAPAULGOLD (+9.78%) led the volume chart with 72.49m units traded while GTCO (+0.52%) led the value chart in deals worth N1.70billion.
Market breadth closed flat. FTNCOCOA (+10.00%) topped twenty-one (21) others on the leader’s log while CONOIL (-10.00%) led twenty-one (21) others on the laggard’s table.
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