Zenith, GTB Gain As ASI Increases By 0.51%

On Tuesday, equities trading at the Nigerian Exchange Limited (NGX) extended the bullish run from previous trading sessions as the benchmark index gained 0.51 per cent to settle at 66,490.34 basis points.

Basically, gains in Zenith Bank, Guaranty Trust Holding Company and Access Holdings were the main drivers of the market’s overall performance having appreciated in share value by 2.29 per cent, 1.81 per cent and 3.44 per cent, respectively.

Accordingly, the Month-to-Date and Year-to-Date returns advanced to +3.4 pe cent and +29.7 per cent, respectively.

The market capitalisation also appreciated by 0.5 per cent as investors gained N185.52 billion, therefore settling at N36.39 trillion by the end of trading sessions on Tuesday.

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As measured by market breadth, market sentiment was positive, as 34 tickers gained relative to 32 losers.

On the performance board, Champion Breweries and Flour Mills of Nigeria topped the gainers’ list having appreciated in share value by 10.0 per cent, respectively, while CWG and Linkage Assurance recorded the highest losses of the day after their respective share prices dipped by 10.0 per cent.

Also, sectoral performance at the local bourse on Tuesday was upbeat as three of the five indices tracked closed in positive territory: the NGX Banking, NGX Consumer Goods, and NGX Industrial indices climbed by 1.63 per cent, 0.99 per cent, and 0.21 per cent, respectively.

On the flip side, the NGX Insurance and NGX Industrial indexes moderated by 1.56 per cent and 0.09 per cent, respectively.

Meanwhile, market activity was robust, with total deals, volume, and value increasing by 10.27 per cent, 40.45.per cent, and 79.14 per cent, respectively, amounting to 7,932 trades, 436.96 million units, and N7.01 billion.

In terms of volume, FBN Holdings emerged as the most actively traded stock, with 55.15 million shares worth N911.21 million changing hands in 288 deals.

(Tribune)

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