Trading in the Nigerian Exchange market maintained bullish run as investors ranked in N248 billion gain on Friday, 3 January, 2024 to close the week.
This comes as the market capitalisation, which opened at N62.918 trillion, added N248 billion or 0.39 per cent to close at N63.166 trillion.
The All-Share Index also advanced by 0.39 percent, or 406.2 points, to close at 103,586.33, against 103,180.14 recorded on Thursday.
Accordingly, sustained investor interest in Tier-1 banks, namely Zenith Bank, United Bank for Africa, UBA, and Access Corporation, alongside other advanced equities, drove the market up.
As a result, the year-to-date return increased to 0.64 percent.
Market breadth closed positive with 67 gainers and 11 losers.
On the gainers’ table, Abbey Mortgage Bank, Chams Plc, Learn Africa, NCR Nigeria, and Omatek led by 10 percent each to close at N3.30, N2.31, N4.95, N6.05, and 88k per share, respectively.
On the flip side, Total Nigeria led the losers’ table by 9.74 percent to close at N630, and Computer Warehouse Group trailed by 6.04 percent to close at N7 per share.
Thomas Wyatt lost 5.26 percent to close at N1.80, ABC Transport dropped 4.07 percent to close at N1.18, and UACN shed 3.19 percent to close at N31.90 per share.
Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 45.48 percent.
A total of 709.28 million shares valued at N8.24 billion were exchanged in 13,593 deals, compared with 829.75 million shares valued at N5.67 billion traded in 11,752 deals, posted previously.
Meanwhile, Chams led the activity chart in volume with 58.07 million shares, while FBN Holdings led in pvalue of deals worth N492.64 million.
Source : Daily Post
