Things are looking good for the Nigerian economy as the Nigerian Exchange Limited, NGX, opened the week’s trading session on a good note by adding 0.23 percent or N131 billion to the market capitalization on Tuesday, 17 September, 2024.
This is as the NGX opened at N56.002 trillion and closed at N56.133 trillion.
Analysis of the data showed that the All-Share Index also gained 0.23 percent or 229 points to close at 97,685.64 points, against 97,456.62 points posted on Friday, 13 September, 2024.
As a result, the ASI year-to-date return increased by 30.64 percent.
Investors’ interest in Geregu, FBN Holdings, Guaranty Trust Holding Company(GTCO), United Bank For Africa(UBA), and Dangote Sugar, among other advanced equities drove the market to a positive terrain.
However, Market breadth closed flat with 26 gainers and 26 losers on the floor of the Exchange.
On the gainers’ chart, FBN Holdings and Flour Mill led 24 other advanced stocks by 10 percent each to close at N31.90 and N54.50 per share respectively.
On the flip side, Eterna led 25 other declined stocks on the losers’ chart by 10 percent to close at N27.90 per share.
Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 45.31 percent.
Investors exchanged 471.30 million shares valued at N9.40 billion in 12,061 deals, compared with 412.90 million shares valued at N6.47 billion traded in 8,803 deals posted in the previous session.
Meanwhile, Japaul Gold led the activity chart in volume chart with 72.27 million shares, while FBN Holdings led in value with deals worth N1.46 billion.
Comparatively, the consumer and banking sectors drove the gains, while the oil and gas sector declined.
