The equities market at the Nigerian Exchange Limited (NGX) extended gains for the fifth consecutive session, as the benchmark index gained 0.81 per cent to settle at 46,604.94 basis points.
On Thursday, telco heavyweight, Airtel Africa, as well as BUA Foods were the major drivers of the market’s strong performance as the share prices of the high-capitalised stocks went up by 6.30 per cent and 6.11 per cent.
Accordingly, the Month-to-Date and Year-to-Date returns printed +6.3 per cent and +9.1 per cent, respectively.
Equities investors, therefore, gained N202.93 billion as the market capitalisation closed higher at N25.38 trillion.
As measured by market breadth, market sentiment was negative as 23 tickers lost relative to 14 gainers. Nestle Nigeria and Redstart Express topped the losers’ list after their respective share price dipped by 10.0 per cent, while Mansard Insurance and Nigerian Breweries recorded the highest gains of the day having appreciated by 8.6 per cent and 6.8 per cent, respectively.
However, sectoral performance was negative, with all five indices tracked closing southward; the NGX Banking, NGX Insurance, NGX Consumer Goods, NGX Oil/Gas, and NGX Industrial indices fell by 1.37 per cent, 0.12 per cent, 0.42 per cent, 1.86 per cent and 0.38 per cent, respectively.
Analysis of market activities for the day under review showed trade turnover settled higher relative to the previous session, with the value of transactions up by 17.84 per cent. A total of 138.60 million shares valued at N2.17 billion were exchanged in 3,434 deals. Sterling Bank led the volume chart with 24.25 m units traded while Airtel Africa led the value chart in deals worth N791.28 million.
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