Business

Equities investments at NGX adds N35.7bn as bulls persists

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1 year ago

The domestic bourse continued its bullish run as the All Share Index (ASI) gained 0.09 percent, settling at 72,470.10 basis points.

Notably, the market’s overall performance was driven by gains in telco heavyweight MTN Nigeria Communication and tier 1 banks, namely Zenith Bank and Guaranty Trust Holding Company, which appreciated in share value by 0.61 percent, 1.75 percent, and 0.25 percent, respectively.

Consequently, the Month-to-Date and Year-to-Date returns increased to +1.6 percent and +41.4 percent, respectively. The bullish trading outing resulted in equities investors gaining N35.67 billion as the market capitalization closed higher at N39.66 trillion.

Measured by market breadth, market sentiment was positive, with 34 tickers gaining relative to 13 losers. Caverton Offshore Support Group and Infinity Trust Mortgage Bank topped the gainers’ list, appreciating in share value by 10.0 percent each, while Omatek Ventures and Prestige Assurance recorded the highest losses of the day, with their respective share prices dipping by 10.0 percent and 9.6 percent.

Analyzing by sectors, the Banking, Insurance, and Industrial Goods indices recorded gains of 1.9 percent, 0.4 percent, and 0.2 percent, respectively, while the Oil & Gas index closed flat. Conversely, the Consumer Goods index was the sole loser for the day.

An analysis of market activities showed that trade turnover settled higher relative to the previous session, with the value of transactions up by 58.02 percent. A total of 411.21 million shares valued at N6.95 billion were exchanged in 6,870 deals. UPDC Real Estate Investment Trust led the volume chart with 42.03 million units traded, while Guaranty Trust Holding Company led the value chart with deals worth N902.20 million.

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