NGX market capitalization adds N251.06 bn as All-Share Index extends gains

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BY BAMIDELE FAMOOFO

Uba Group

The market capitalization of the Nigerian Exchange Limited increased by about N251.06 billion with the All Share Index up by 1.06 percent as the local bourse extended it bullish run on Thursday.

Investors interest in Airtel Africa Plc whose shares gained 0.37 percent and Dangote Cement’s 7.77 percent gain were the primary drivers of the market’s overall performance. Nevertheless, the market remains on track for its first week of loss in the month, offsetting past week gains. Consequently, the ASI’s year-to-date (YTD) return rose to 2.86 percent, while the market capitalisation gained N251.06bn to close at N23.94tn.

Analysis of the day’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 71.01 percent. A total of 405.00m shares valued at N3.10bn were exchanged in 3,188 deals. STERLNBANK (+0.00%) led the volume chart with 171.15m units traded while AIRTELAFRI (+0.37%) led the value chart in deals worth N700.25m.
Market breadth closed positive at a 1.08-to-1 ratio with advancing issues outnumbering declining ones. COURTVILLE (+8.70%) topped thirteen (13) others on the gainer’s table, while JBERGER (-9.81%) led twelve (12) others on the laggard’s log.