Business

Equities investment adds N313.39bn as NGX turns bullish

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1 year ago

At the Nigerian Exchange Limited on Thursday, equities trading recovered from the previous session’s loss, posting gains as the benchmark index rose by 0.70 percent to close at 82,597.04 basis points.

Basically, gains in MTN Nigeria Communication, BUA Cement and Zenith Bank kept the market in the green as rally on these large capitalizations left the share prices higher by 0.35 percent, 0.54 percent and 1.99 percent, respectively.

Accordingly, the market is on track for a week of gain as the year-to-date (YTD) return rose to 10.46 percent.

Owing to the bullish trading outing on Thursday, equities investors earned N313.39 billion cumulatively as the market capitalization gained closed at N45.20 trillion.

As measured by market breadth, market sentiment was positive, as 46 tickers gained relative to 22 losses. On the performance board, Guinea Insurance and Royal Exchange topped the gainers’ list having appreciated in share value by 10.0 percent, respectively, while Abbey Mortgage Bank and Ikeja Hotel recorded the highest losses of the day after their respective share prices dipped by 9.9 percent.

Sectoral performance was broadly positive as the Banking, Insurance, Consumer Goods, Oil & Gas, and Industrial Goods indices recorded gains, inclining in value by 2.7 percent, 0.5 percent, 0.4 percent, 0.4 percent and 0.2 percent, respectively.

Analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 43.20 percent . A total of 877.28 million shares valued at N14.41 billion were exchanged in 14,919 deals.

Transnational Corporations led the volume chart with 74.54 million units traded while Zenith Bank led the value chart in deals worth N1.98 billion.

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