The bullish sentiment persisted on Thursday at the Nigerian Exchange Ltd. (NGX) equity market, with the market indices rising by 0.58 per cent.
Investors gained N329 billion or 0.58 per cent, as the market capitalization closed at N56.961 trillion, compared to N56.632 trillion recorded on Wednesday. Similarly, the All-Share Index appreciated by 0.58 per cent or 601.72 points to settle at 104,100, up from 103,498.28 in the previous session, pushing the Year-To-Date (YTD) return to 39.22 per cent.
Continued buy interests in the shares of BUA Cement, BUAFoods, and Geregu maintained the market in the positive terrain. A total of 284.49 million shares valued at N6.91 billion were exchanged in 8,168 deals, down from 426.86 million shares valued at N12.11 billion traded in 8,654 deals in the preceding session. However, market activity analysis indicated a lower trade turnover relative to the previous session, with the value of transactions declining by 42.89 per cent.
Guaranty Trust Holding Company (GTCO) led the activity table in both volume and value with the trade of 56.61 million shares worth N2.22 billion. Transcorp followed with 33.17 million shares valued at N418.31 million, while United Bank of Africa (UBA) traded 18.38 million shares worth N442.96 million. Additionally, Mutual Benefits Assurance sold 16.76 million shares valued at N11.48 million, and AXA Mansard traded 12.51 million shares worth N75.57 million.
University Press Ltd. (UPL) led the gainers’ table in percentage terms, rising by 9.96 per cent to close at N2.87 per share, followed by Juli Plc, which gained 9.84 per cent to close at N1.34 per share. Mutual Benefits gained 9.38 per cent to close at 70 kobo, Daar Communications rose by 8.82 per cent to close at 74 kobo, while Honeywell Flour garnered 7.50 per cent to close at N4.30 per share.
Conversely, Unilever Nigeria Plc led the losers’ table with a 9.80 per cent decline to close at N16.10, followed by Julius Berger, which lost 9.64 per cent to close at N50.60, and Morison Industries Plc, shedding 9.60 per cent to close at N2.23 per share. May & Baker Nigeria Plc depreciated by 6.52 per cent to close at N6.45, while National Salt Company of Nigeria (NASCON) dropped 5.37 per cent to close at N59.04 per share.
Market breadth closed negative with 26 declining stocks outnumbering 23 advancing ones.
