Bulls persist as equities investors further earn N130bn

At the Nigerian Exchange Limited (NGX), on Thursday, equities trading extended its winning streak for the third consecutive session as the benchmark index advanced by 0.47 per cent.

Specifically, the All-Share Index (ASI) closed at 51,618.73 basis points having appreciated by 0.47 per cent, thus maintaining the positive momentum at the local bourse.

Sustained interest in MTN Nigeria, FBN Holdings and Union Bank of Nigeria shares contributed to the overall bullish market.

As a result, the ASI’s year-to-date (YTD) return increased to 20.84 per cent, while the market capitalisation gained closed at N27.83 trillion, thus equities investors earned.

As measured by market breadth, market sentiment, however, was negative as 22 tickers lost relative to 17 gainers.

On the performance board, Academy Press and Ellah Lakes recorded the highest losses of the day after their respective stock values dipped by ten per cent, while FBN Holdings and FTN Cocoa topped the gainers’ list having appreciated in stock value by 9.8 per cent and 9.4 per cent respectively.

Performance across the sub-sector was largely positive except for the NGX Consumer Goods index which fell by 0.34 per cent. The NGX Banking index, NGX Insurance index, NGX Oil/Gas index and the NGX Industrial index rose by 0.15 per cent, 0.73 per cent, 0.53 per cent and 0.01 per cent respectively.

Market activity for the day was weak as analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 10.57 per cent.

A total of 223.25 million shares valued at N2.86 billion were exchanged in 4,028 deals.

Mutual Benefit led the volume chart with 40.13 million units while Presco RESCO led the value chart in deals worth N383.18 million.

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Bulls persist as equities investors further earn N130bn