Bulls persists at NGX as equities investors earn N267.4bn

At the Nigerian Exchange Limited (NGX) on Wednesday, equities trading extended its winning streak for the fifth consecutive session to maintain the positive momentum as the benchmark index closed 0.95 per cent stronger at 52,097.62 basis points.

Specifically, gains in Airtel Africa, MTN Nigeria Communications and Zenith Bank kept the market in the green, having appreciated in share value by 4.34 per cent, 0.44 per cent and 2.27 per cent, respectively.

Consequently, the Month-to-Date and Year-to-Date returns printed -3.9 per cent and +1.7 per cent, respectively.

Investor, therefore, earned N267.42 billion cumulatively as the market capitalisation gained settled at N28.37 trillion at the end of trading sessions for the day.

Market breadth closed positive with advancing issues outnumbering declining ones. On the performance board, Livestock and Academy Press topped 37 others on the leader’s log having inclined in share value by 10.00 per cent, respectively, while Fidelity Bank topped five others on the laggard’s table after it’s share price dipped by 6.57 per cent.

However, most of the sectoral index’s performances was negative, as three of the five sub-sector gauges tracked closed in the red zone; the NGX Banking, NGX Consumer Goods, and NGX Oil/Gas indices declined by 0.08 per cent, 0.13 per cent and 0.12 per cent, respectively. On the flip side, the NGX Insurance and NGX Industrial indexes rose by 0.93 per cent and 0.16 per cent, respectively.

Analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 120.04 per cent.

A total of 6.48 billion shares valued at N19.47billion were exchanged in 5,109 deals. Again, Transnational Corporation was investor’s toast as it led the volume and value charts with 6.13 billion units traded in deals worth N15.57 billion.