Nigerian equities extended the bullish run as the Nigerian Exchange Limited (NGX) benchmark index gained 0.93 per cent to settle at 53,998.12 points, the highest point since May 27. Gains in MTNN (+3.78%) and SEPLAT (+9.50%) kept the market in the positive territory, offsetting losses in ZENITHBANK (-1.57%) and ACCESSCORP (-0.55%).
The gain puts the index on track for its fourth consecutive weekly gain since the week ended 13 January. Consequently, the All Share Index’s year-todate (YTD) return rose to 5.36 per cent, while the market capitaliaation gained ₦271.49 billion to close at ₦29.41 trillion. Market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 46.08 per cent. A total of 2.87 billion shares valued at ₦8.07 billion were exchanged in 3,940 deals. AIICO (+0.00%) led the volume chart with 14.00m units traded, while AIRTELAFRI (+0.00%) led the value chart in deals worth ₦3.49 billion. Market breadth closed positive at a 2.10-to-1 ratio with advancing issues outnumbering declining ones. SEPLAT (+9.50%) topped 20 others on the gainer’s table, while MBENEFIT (-7.69%) led nine others on the M loser’s chart.