NSE sustains gains with N159bn

The bulls yesterday maintained grip on market activities as stocks sustained rallies for the fourth trading session following gains recorded by blue chip stocks as investors continue to leverage undervalued stocks.

The key market performance measures, the NSE All Share Index and market capitalisation, rose by 1.25 per cent as market sentiments extended gaining streaks following investors’ sustained optimism on undervalued stocks.

Consequently, the All-Share Index gained 306.16 basis points or 1.25 per cent to close at 24,758.39 as against 24.452.23 recorded the previous day while the market capitalisation of equities appreciated by N159 billion or 1.25 per cent to close at N12.902 trillion from N12.743 trillion as market sentiment remained on the green zone.

Meanwhile, a turnover of 350.76 million shares exchanged in 6,239 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 173.95 million shares exchanged by investors in 2,308 deals.

Volume in the sub-sector was largely driven by activities in the shares of FBNH Plc and Zenith Bank Plc.

The banking sub-sector boosted by activities in shares of GTBank Plc and Fidelity Bank Plc followed with a turnover of 47.62 million shares in 708 deals.

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