Equity market sustains bullish run as investors earn N273.12bn

The Nigerian equities maintained the bullish run, as the benchmark index up 0.47 per cent to settle at 104,007.36 basis points.

Sustained interest in telco heavyweight, MTN Nigeria Communication, Transcorp Power, and Guaranty Trust Holding Company, having appreciated in share values by 2.26 per cent, 0.58 per cent, and 3.26 per cent, respectively, offset selloffs to keep the market in the green.

This year-to-date (YTD) return rose to 39.10 per cent.

Equities investors, therefore, earned N273.12 billion as the market capitalisation settled at N58.81 trillion by the end of trading activities at the local bourse on Wednesday.

Market breadth closed positive with advancing issues outnumbering the declining ones.

On the performance board, Ecobank Transnational Incorporated topped 30 others on the leader’s table having appreciated in share value by 10.0 percent, while SKY Aviation led twenty-one others on the laggard’s log after its share price dipped by 10.0 per cent.

Analysis of market activities on Wednesday showed trade turnover settled lower relative to the previous session, with the value of transactions down by 35.93 per cent.

A total of 326.95 million shares valued at N9.12 billion were exchanged in 9,570 deals.

Transnational Corporation led the volume chart with 38.95 million units traded, while Nestle Nigeria led the value chart with deals worth N1.50 billion.