Market capitalization gains N272bn as NGX All-Share Index extends gains, up by 0.93%



Uba Group

Nigerian equities extended the bullish run as the benchmark index gained 0.93 percent to settle at 53,998.12 points, the highest point since 27 May.

Gains in MTNN (+3.78%) and SEPLAT (+9.50%) kept the market in the positive territory, offsetting losses in ZENITHBANK (-1.57%) and ACCESSCORP (-0.55%). The gain puts the index on track for its fourth consecutive weekly gain since the week ended 13 January.

Consequently, the ASI’s year-to-date (YTD) return rose to 5.36 percent, while the market capitalization gained N271.49billionn to close at N29.41trillion.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 46.08 percent. A total of 2.87billion shares valued at N8.07billion were exchanged in 3,940 deals. AIICO (+0.00%) led the volume chart with 14.00m units traded, while AIRTELAFRI (+0.00%) led the value chart in deals worth N3.49billion.

Market breadth closed positive at a 2.10-to-1 ratio with advancing issues outnumbering declining ones. SEPLAT (+9.50%) topped twenty (20) others on the gainer’s table, while MBENEFIT (-7.69%) led nine (9) others on the leader’s log.