NGX gains N190bn as bullish run extends to fourth day

By Seun ibiyemi

The Nigerian Exchange Limited (NGX) sustained its upward momentum on Thursday, closing positive for the fourth consecutive session as strong performances from Guinness Nigeria Plc, C&I Leasing and Etranzact lifted the market.

The All-Share Index (ASI) gained 0.21 per cent, climbing to 140,665.84 points from 140,365.36 points in the previous session. Market capitalisation increased by N190 billion, settling at N89.003 trillion against the prior day’s N88.813 trillion.

Investor activity remained vibrant, with 378.18 million shares worth N12.41 trillion traded across 22,935 deals. Japaul Gold, Zenith Bank, UBA, Access Holdings and Nigerian Breweries ranked among the most actively traded equities.

Guinness Nigeria Plc led the day’s gainers with a 10 per cent rise, moving from N130 to N143 per share. C&I Leasing followed, also appreciating by 10 per cent to close at N6.60, while Etranzact climbed 9.68 per cent to finish at N13.60 per share.

Market watchers observed that the continued rally reflects growing investor appetite for value stocks, although they cautioned that the likelihood of profit-taking remains on the horizon.