Bullish sentiments persist at NGX as investors further earn N271.5bn

Equities trading at the Nigerian Exchange Limited (NGX) on Thursday ended positive, extending the bullish run as the benchmark index gained 0.93 per cent to settle at 53,998.12 basis points.

Specifically, gains in MTN Nigeria and Seplat Energies kept the market in the positive territory, having appreciated in share value by 3.78 per cent and 9.50 per cent.

Consequently, the Month-to-Date and Year-to-Date returns advanced to +1.4 per cent and +5.4 per cent, respectively.

Equities investors, therefore, made an additional N271.49 billion in their investment as the market capitalisation settled higher at N29.41 trillion by the end of trading activities at the bourse on Thursday.

As measured by market breadth, market sentiment was positive as 27 stocks gained relative to 13 losers. On the performance board, MRS and Northern Nigeria Flour Mills recorded the highest gains of the day having appreciated in share value by 10.0 per cent and 9.9 per cent, respectively, while Sunu Assurance and Mutual Benefits topped the losers’ list as their respective share prices dipped by 8.1 per cent and 7.7 per cent.

Analyses of the sectors showed mixed performance with the NGX Banking and NGX Insurance Indices declining by 0.44 per cent and 0.39 per cent, respectively; while the NGX Consumer Goods Indices and the NGX Industrial Indices stayed flat from the previous trading day.

In the broader market, the NGX Premium and the NGX-30 index increased by 195 basis points and 91 basis points, respectively.

Market activities for the day under review were impressive as analysis showed trade turnover settled higher relative to the previous session, with the value of transactions up by 46.08 per cent.

A total of 2.87 billion shares valued at N8.07 billion were exchanged in 3,940 deals. AIICO Insurance led the volume chart with 14.00 million units traded, while Airtel Africa led the value chart in deals worth N3.49 billion.

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