Investors gain N14 billion as equity market sustains positive sentiment

The Nigerian Exchange Limited (NGX) closed the trading day with a gain of N14 billion in market capitalization as bulls maintained their hold on the local bourse.

As a result, the All-Share Index rose by 25.93 basis points, or 0.06 percent, to close at 43,968.75 index points, up from 43,942.82 the previous trading session, while equity market capitalisation increased by N14 billion, from N23.934 trillion the previous day to N23.948 trillion as market sentiment remained positive.

To close the market breadth positive, the local bourse recorded 16 gainers led by Cornerstone Insurance Plc and 7 losers led by Flour Mills of Nigeria Plc.

Meanwhile, 209.7 million shares were exchanged in 2,942 transactions during the day’s trading.

The premium sub-sector was the most active (in terms of turnover volume), with investors exchanging 99.29 million shares in 824 transactions.

Volume in the sub-sector was primarily driven by activity in Access Bank Plc and UBA Plc shares.

The banking sub-sector was also boosted by activity in the shares of GTCO Holdings Plc and Unity Bank Bank Plc, which resulted in a turnover of 37.69 million shares in 583 transactions.