NGX All-Share Index extends gains, up 1.06%

The Nigerian Exchange Limited (NGX) equities market extended the bullish run on Thursday as the benchmark index gained 1.06per cent to settle at 43,939.68 basis points.

Investors’ interest in Airtel Africa, which appreciated by 0.37per cent and Dangote Cement that rose by 7.77per cent were the primary drivers of the market’s overall performance.

Nevertheless, the market remains on track for its first week of loss in the month, offsetting past week gains.

Consequently, the ASI’s year-to-date (YTD) return rose to 2.86per cent, while market capitalisation gained N251.06billion to close at N23.94trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are:  Dangote Cement, Airtel Africa, MRS Nigeria Oil, Nigerian Exchange Group (NGX Group) and Nigerian Aviation Handling Company (NAHCO).

However, market breadth remained slightly negative as 15 stocks posted gains while 16 stocks posted declines.

MRS Nigeria Oil recorded the highest price gain of 9.83 per cent to close at N12.85 per share. Courteville Business Solutions followed with a gain of 8.70 per cent to close at 50 kobo, while Unity Bank rose by 8.33 per cent to close at 52 kobo per share.

Dangote Cement went up by 7.77 per cent to close at N238.50, while Mutual Benefits Assurance appreciated by 3.70 per cent to close at 28 kobo per share.

On the other hand, Julius Berger Nigeria  led the losers’ chart by 9.81 per cent to close at N21.15 per share. Cadbury Nigeria followed with a decline of 9.69 per cent to close at N10.25, while Prestige Assurance went down by 9.52 to close at 38 kobo per share.

Multiverse Mining & Exploration lost 9.41 per cent to close at N3.85, while Wapic  Insurance shed 5.71 per cent to close at 33 kobo per share.

Meanwhile, the total volume traded rose by 203.59 per cent to 405.005 million shares, worth N3.097 billion, and traded in 3,188 deals.

Transactions in the shares of Sterling Bank topped the activity chart with 171.155 million shares valued at N231.1.292 billion.

Access Holdings followed with 78.765 million shares worth N634.062 million, while Transnational Corporation of Nigeria (Transcorp) traded 36.764 million shares valued at N38.611 million.