Bullish sentiments continued in the Nigerian equities market on Thursday underpinned by bargain hunting in Guaranty Trust Holding Company, Dangote Sugar, First Bank of Nigeria Holdings and United Bank for Africa.

As a result, the All-Share Index (ASI) of the Nigerian Exchange Limited (NGX) inched higher by 0.55 per cent to close at 98,762.78 basis points.

The market remains on track for its first weekly gain after six consecutive losses. The year-to-date (YTD) return rose to 32.08 per cent, with the Year-to-Date gain advancing to +32.1 per cent.

Related PostsLocal stock market opens with marginal increase as investments adds 0.13%Local stock market opens weeks bullish by 0.2% as investors earn N100.6bnLocal stock market opens week bullish as investors earn N100.6bn

Equities investors, therefore, gained N303.79 billion cumulatively as the market capitalisation settled at N55.86 trillion at the end of the day’s trading activities.

As measured by market breadth, market sentiment was positive, as 28 tickers gained relative to 14 losers.On the Performance board, Presco and Flour Mills of Nigeria Plc topped the gainers’ list having appreciated in share value by 10.0 per cent, respectively, while Nascon Allied Industries and University Press Limited recorded the most significant losses of the day after their share prices dipped in value by 10.0 per cent and 9.3 per cent, respectively.

Performance across the sectors was broadly positive, as the Banking, Oil & Gas, Insurance and Consumer Goods indices advanced by 3.2 per cent, 1.0 per cent, 0.7 per cent and 0.6 per cent, respectively; while the Industrial Goods index closed flat.

However, activities for the day were unimpressive as analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 62.86 per cent.

A total of 665.20 million shares valued at N5.54 billion were exchanged in 8,446 deals.

Abbey Mortgage Bank led the volume chart with 362.82 million units traded, while Access Holdings topped the value chart in deals worth N954.62 million.

Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).