THUR AUG 08 2024-theGBJournal| The Nigerian equities extended gains from yesterday’s session as the benchmark Index added 105 bps to close at 98,116.27 points putting the index on track for a weekly gain.
Buying activity in MTNN (+10.00%), GTCO (+2.22%) and ZENITHBANK (+2.70%) drove the market’s positive performance, despite declines in WAPCO (-0.54%) and DANGSUGAR (-1.88%).
Consequently, the year-to-date (YTD) return rose to 31.22%, while the market capitalization gained N577.72 billion to close at N55.71 trillion.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 18.45%.
A total of 791.78 million shares valued at N15.13 billion were exchanged in 9,059 deals.
NEM (+0.00%) led the volume chart with 187.51m units traded while GTCO for the second time in a row, led the value chart in deals worth N5.06 billion.
Market breadth closed positive at a 1.78-to-1 ratio with advancing issues outnumbering declining ones. MTNN (+10.00%) topped thirty-one others on the gainer’s log while UCAP (-9.94%) led seventeen others on the laggard’s table.
Meanwhile, the Naira strengthened further by another 0.2% to NGN1,593.62/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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