Business and Economy

NGX All-Share Index extends gains with 0.11% to settle at 49,889.88 points

The new month opened to extend the local bourse’s bullish run as the benchmark index gained 0.11% to settle at 49,889.88 points. On-the-whole, the gain puts the index on track for its second consecutive weekly gain since the week ended 19 August.

Investor interests in BUACEMENT (+2.69%), UBA (+1,39%) and ACCESSCORP (+2.41%) offset selloffs in ZENITHBANK (-2.97%) and FBNH (-3.59%) to extend the bullish run on the broader index. As a result, the ASI’s year-to-date (YTD) return rose to 16.79%, while the market capitalisation gained ₦28.79bn to close at ₦26.91trn.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 37.63%. A total of 229.12m shares valued at ₦1.75bn were exchanged in 3,575 deals. STERLNBANK (-4.52%), for the second straight session, led the volume chart with 109.0m units traded, while GTCO (+0.00%) led the value chart in deals worth ₦680.0m.

Market breadth closed positive at a 1.20-to-1 ratio, with advancing issues outnumbering declining ones. UPDC (+5.00) topped eleven (11) others on the leader’s log, while TRANSCORP (-7.08%) led nine (9) others on the laggard’s table. Find below key highlights of market activities

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