Nigerian Exchange Gains N405bn Amid Bullish Trading

On Friday, the Nigerian Exchange sustained its bullish run, gaining N405 billion, with the market capitalization of listed equities increasing by 0.25% to N159.558 trillion from N159.153 trillion the previous day. The NGX All Share Index rose by 604.22 basis points, closing at 246992.44 points, up from 246388.22 points.

Despite the overall gain, market breadth was negative, with 28 advancers compared to 31 decliners, bringing the year-to-date return to 58.72%. Trading volume increased significantly by 1.808 billion shares, representing a 416.56% rise, with a total of 2.242 billion shares traded compared to 434.023 million the previous day.

The value of transactions also surged by 149.70% to N73.411 billion across 42709 deals. Abbey Building Society and Royal Express led the gainers, each up by 10%, while Redstarex and HMcall topped the losers' chart, each down by 10%.