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By Chukuwma Umeorah
Proceedings on the floor of the Nigerian Exchange Limited (NGX) extended the bullish run for a second consecutive session as Nigerian equities posted strong gains at the close of transactions on Thursday.
Specifically, the benchmark index ended 2.03 per cent stronger – the biggest single-day gain since 31 December 2021 – to settle at 49,661.87 points, the highest point since 17 August.
Daily Sun observed that investor interest in index heavyweights, Airtel Africa (+7.06 per cent), Nestle (+0.34 per cent) and BUAFOODS (+3.33 per cent) drove the broader index’s strong performance.
Consequently, the year-to-date (YTD) return rose to 16.26 per cent with market capitalisation gaining N532 billion to close at N26.785 trillion from N26.253 trillion.
Analysis of yesterday’s market activities showed that a total of 226.47 million shares valued at N2.76 billion were exchanged in 3,515 deals.
Mutual Benefits led the activity chart with the sale of 74.54 million shares valued at N22.83 million. FBNH followed with the sale of 23.42 million shares worth N25.18 million while AccessCorp transacted 15.84 million shares valued at N13.01 million. Market breadth closed positive as 17 securities appreciated while 8 others depreciated.
