Stock Market
NGX ASI sustains bull run, up 26bps
Nigeria Stock Exchange has sustained the bull run as the benchmark index closed 26bps stronger to settle at 98,227.50 points. Sustained buy interest in ZENITHBANK (+2.05%) alongside FBNH (+0.93%) and WAPCO (+9.98%) drove the market’s performance, offsetting selloffs in UBA (-0.15%), ACCESSCORP (-0.42%) and STANBIC (-5.09%). As a result, the year-to-date (YTD) return gained 28bps to 31.37%, while the market capitalization added ₦166.64bn to close at ₦59.53tn.
On market activities, trade turnover settled higher relative to the previous session, with the value of transactions up by 31.58%. A total of 370.52m shares valued at ₦8.45bn were exchanged in 10,026 deals. Again, ACCESSCORP (-0.42%) led the volume chart with 22.99m units transacted while SEPLAT (+0.00) led the value chart with ₦1.37bn.
Market breadth closed positive at a 1.4-to-1 ratio with advancing issues outnumbering declining ones. TANTALIZER (+10.00%) topped thirty-five (35) others on the leader’s log, while NNFM (-10.00%) topped twenty-four (24) others on the laggard’s table.
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