Monday, April 15, 2024

Bullish sentiment persists in equities market as NGX All-Share Index gains 0.61%

BY BAMIDELE FAMOOFO

The local bourse’s All-Share index rose further by 0.61 percent to close at 54,646.38 points on Thursday.

Hence, the year-to-date gain of the index climbed to 6.63 percent even as the Exchange printed a higher number of gainers (28) than losers (10).

Notably, gains from stocks such as MRS (+9.88%), BUAFOODS (+8.87%), LIVINGTRUST (+5.26%), GEREGU (+3.49%), and NB (+2.44%) were able to lift the domestic bourse on Thursday.

Given the bullish mood, performance across sub-sector gauges was positive, as the NGX Banking, NGX Insurance, NGX Consumer Goods, NGX Oil/Gas, and the NGX Industrial indices rose by 0.39 percent, 0.40 percent, 3.79 percent, 0.39 percent, and 0.06 percent, respectively.

In the broader market, the NGX Premium and the NGX-30 index increased by 12 basis points and 55 basis points, respectively.

Meanwhile, trading activity decreased, with total deals, and value falling by 1.01 percent and 52.92 percent, respectively, to 2,651 trades, and N1.85 billion. In terms of volume, UBA was the most active stock, with 32.42 million shares worth N272.12 million changing hands in 136 deals.

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