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By Chinwendu Obienyi
For the second consecutive session in the week, Nigerian equities extended its bullish run as the benchmark index on Tuesday inched up by 0.72 per cent to close at 47,205.03 points, the highest point since March 21, 2022.
Transactions at the local bourse had kicked off the week with a 0.51 per cent gain on the back of buying interest in MTNN, Zenith Bank and AccessCorp even as market capitalization closed higher by N127.49 billion to settle at N25.27 trillion.
The positive sentiments continued as investors on getting the information about MTNN’s final approval of its MoMo PSB licence by the Central Bank of Nigeria (CBN), increased their appetite for its stock as well as banking stocks – Zenith Bank, GTCO and AccessCorp.
In addition, gains in Nigerian Breweries, Seplat and Wapco drove the rise in the main index, hence the year-to-date (YTD) return rose to 10.5 per cent while investors gained N182 billion as market capitalization closed at N25.45 trillion.
This meant that investors’ wealth has risen by over N309 billion in two consecutive sessions. Analysis of yesterday’s activities revealed that trade turnover settled higher as against the previous trading session, with the value of transactions advancing by 19.80 per cent.
A total of 245.42 million shares valued at N4.58 billion were exchanged in 5,832 deals. GTCO, for the second consecutive session, led the volume chart with N39.09 million units while Seplat led the value chart in deals worth N984.84 million.
