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The Nigerian Exchange Limited continued its bullish run as investors added N314 billion in profits to their portfolio on Thursday. The market capitalization, which opened at N56.133 trillion, gained N314 billion or 0.56 percent to close at N56.447 trillion. The All-Share Index also rose by 0.56 percent or 545 points, to close at 98,230.92 points,
NGX continues the bullish trend with N314bn gain on Thursday
The Nigerian Exchange Limited continued its bullish run as investors added N314 billion in profits to their portfolio on Thursday.
The market capitalization, which opened at N56.133 trillion, gained N314 billion or 0.56 percent to close at N56.447 trillion.
The All-Share Index also rose by 0.56 percent or 545 points, to close at 98,230.92 points, in contrast to 97,685.64 points posted on Thursday.
Sustained interest in Geregu, FBN Holdings, Access Corporation, and Fidelity Bank, alongside Oando Plc, and United Capital, among other advanced stocks, drove the market’s positive performance.
Consequently, the Year-To-Date (YTD) return increased by 31.37 percent.
Market breadth also closed positive with 28 gainers and 26 losers on the floor of the Exchange.
On the gainers’ table, Sky Shelter Fund Plc led by 9.99 percent to close at N179.45, and Honeywell Flour followed by 9.96 percent to close at N5.41 per share.
Meyer Plc advanced by 9.95 percent to close at N6.41, Academy Press increased by 9.89 percent to close at N2.89, and Caverton appreciated by 9.68 percent to close at 3.06 per share.
On the flip side, Northern Nigeria Flour Mills led the losers’ table by 10 percent to close at N39.15, and Berger Paints trailed by 9.81 percent to close at N21.60 per share.
Deep Capital Management and Trust Plc lost 9.68 percent to close at 84k, Livestock decreased by 9.09 percent to close at N2.40, while Omatek went down by 9.09 percent to close at 65k per share.
However, analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 19.49 percent.
A total of 361.30 million shares valued at N7.57 billion were exchanged in 9,627 deals, compared with 471.30 million shares valued at N9.40 billion in 12,061 deals traded in the previous session.
Meanwhile, JapaulGold, for the third time in a row, led the activity chart in volume with 64.04 million shares, while Geregu led in value with deals worth N1.34 billion.
NGX continues the bullish trend with N314bn gain on Thursday
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