The Nigerian equities market today advanced by 244 basis points as against 47 basis points increase recorded on last trading day. At the end of today’s trading session, the ratio of advancers to decliners closed at 3.1. The ASI gained 701.93 points to close at 29,415.60 while the market capitalization increased by $1.08 billion to close at US$45.33 billion (N6.708 trillion). In the same vein, the value of transactions consummated increased by 58.89% to close at $16.40 million (N2.426 billion) as against $26.05 million (N3.855 billion) recorded on last trading day.
The trading session today opened on a high note as the ASI appreciated by 83 basis points within the first 5 minutes of trading. The midday session also witnessed upward trend with minimal volatility as major market indicators moved northwards. The positive trend continued till the later part of trading period causing few stocks such as Flourmill, First Bank, Oceanic, Conoil, BCC, amongst other to close limit high at the close of business.
We expect the current market trend to continue for the next few trading days.
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