Kayode Ogunwale

 

Trading activities on the floor of the Nigerian Exchange Limited (NGX) sustained its bullish trend as the day’s trading session ended on a positive note with N264 billion gains.

The benchmark, NGX All Share Index gained 62 basis points in today’s session to close at 78,020.54 points from 77,537.57 points in the previous session.

The day’s positive performance was attributed to investors’ buying activities in major stocks like MTN (+2.84%), Dangote Sugar (+4.43%), Conoil (+5.79%), Transnational Corporation (+9.93%), Wema Bank (+10%), GTCo (+1.20%), Zenith Bank (+0.86%) and 41 other stocks.

Consequently, the year-to-date return surged to 4.34%, while the overall market capitalization gained 0.62% to N42.69 trillion as investors’ wealth rose by N264.29 billion.

Market activity for the day was positive as volume and value traded increased by 6.11% and 4.40% to 984.19 million units and N11.16 billion, respectively.

Analysts at Futureview Group expect a sustained bullish trend in the equities market driven by improved investors’ sentiment.

Meanwhile, Naira appreciated by 13.51% against the US Dollar in the NAFEM Window, closing at a rate of N895.23 per US Dollar.