For the second consecutive session, the Lagos bourse extended the bullish momentum as the benchmark index closed 0.18 per cent stronger, to close at 48,223.86 basis points.
The positive trade at the Nigerian Exchange Limited (NGX), on Thursday, came amid bargain hunting on shares of Wapic Insurance, PZ, Dangote Sugar, United Bank for Africa (UBA) and Dangote Cement as their respective share prices rose by 6.25 per cent, 5.93 per cent, 2.10 per cent, 1.91 per cent and 1.19 per cent.
Consequently, the Month-to-Date and Year-to-Date returns increased to +2.7 per cent and +12.9 per cent, respectively.
Equities investors, therefore, gained N45.91 billion as the market capitalisation settled at N26 trillion.
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As measured by market breadth, market sentiment was positive as 28 tickers gained relative to nine losers. Berger Paints and Eterna recorded the highest gains of the day by ten per cent respectively, while SCOA and ABC Transport topped the losers’ list having depreciated in value by 9.8 per cent and 6.5 per cent.
Given the upturn in the benchmark index, performance across sub-indices tracked was largely positive except for the NGX Banking Index and the NGX Oil/Gas index which fell by 0.49 per cent and 0.11 per cent respectively. The NGX Insurance index, NGX Industrial Index and the NGX Consumer Goods index increased by 0.60 per cent, 0.62 per cent and 0.28 per cent respectively.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions declining by 14.81 per cent.
The total volume traded decreased by 30.0 per cent to 244.69 million units, valued at N3.15 billion, and exchanged in 4,859 deals. Custodian Insurance was the most traded stock by volume at 38.70 million units, while Nigerian Breweries was the most traded stock by value at N733.01 million.
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Investors gain N45.9bn as bulls persist at NGX
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