The Nigerian Exchange Limited (NGX) continued its upward trend for the second consecutive session on Thursday, as the benchmark index rose by 0.81% to close at 62,019.88 basis points.
This positive performance resulted in a Month-to-Date return of +1.7% and a Year-to-Date return of +21.0%.
The strong performance of the market was driven by key players such as Dangote Cement, Zenith Bank, and Stanbic, which saw their share values appreciate by 1.75%, 1.32%, and 1.67%, respectively.
As a result, equity investors gained N270.24 billion, with the market capitalization settling at N33.77 trillion at the end of the trading day.
Market sentiment remained positive, with 54 gainers outnumbering 18 losers. Eterna and Union Bank of Nigeria recorded the highest gains of the day, with their share values appreciating by 10.0% each. Conversely, Wapic Insurance and UPDC topped the losers’ list, with their share values declining by 9.6% and 9.2%, respectively.
Analyzing the market by sectors, the Oil and Gas, Industrial Goods, and Consumer Goods indices recorded gains of 2.4%, 0.9%, and 0.2%, respectively. However, the Banking and Insurance indices experienced losses of 2.5% and 0.6%, respectively.
Trading activities at the local bourse were impressive, with trade turnover higher than the previous session. The value of transactions increased by 821.84%, with a total of 5.44 billion shares valued at N95.01 billion exchanged in 9,948 deals. FBN Holdings led the volume and value charts, with 4.69 billion units traded in deals worth N87.81 billion.
