Investors gain N3bn as NGX goes bullish on Thursday

Equities trading at the Nigerian Exchange Limited (NGX) put up a positive performance on Thursday

The bullish trade brought the month-to-date and year-to-date outings of the Market All-Share Index (ASI) and Market Capitalisation to stand at -3.32 per cent and 3.83 per cent respectively.

The outing thus pegged the Market Capitalisation at N21.825 trillion as investors gained three billion naira in the session.

Also, the ASI recorded a basis point gain to close at 41,813.27 basis points as investors’ interest in Zenith Bank and Access Bank boost market performance amid sell-offs of Dangote Sugar.

Market breadth also closed northwords as 21 equities gained as against 12 pn the losers’ chat.

CHI Plc gained ten per cent to lead the best five performing stocks in the session, followed by Mutual Benefit, Regal Insurance, Unity Bank and Wapic.

FTN Cocoa led the losers’ chat and followed by Royal Exchange, Veritas Kapital, EcoBank Transnational Incorporated and Ardova Plc

Most sectoral indices closed in opposite direction with the ASI save for NGX Consumer Goods, NGX Banking, and NGX Insurance that gained 0.20 per cent, 0.52 per cent, and 2.24 per cent respectively, while NGX Growth and NGX ASEM closed flat.
The market traded 360 million units, representing a 99.78 per cent increase from a volume of 180 million units traded in the previous session.

The value of traded stocks inched up by 24.53 per cent to stand at N1.844 billion as against N1.481 billion recorded in the previous trading session on Wednesday.

Jaiz Bank dominated the volume charts as the top traded stock by volume for the trading session. It was followed by Access Bank, Sterling Bank, UPDCREIT, and NGX Group to complete the list of the five most traded stocks by volume.

With regards to the value of traded stocks, Access Bank took the lead of the top five performers as well. It is flanked by NGX Group, MTN Nigeria, Zenith Bank and FBN Holdings.