Local Equities Gain N1.383 Trillion Amid Bullish Trading

On Friday, the local equities market experienced a bullish trend, appreciating by N1.383 trillion, which raised the market capitalisation of listed equities to N155.825 trillion from N154.442 trillion the previous day, marking a 0.90 percent increase. The NGX All Share Index rose by 2142.38 basis points, reaching 241298.47 points from 239156.09 points.

This positive performance was largely attributed to gains in mid-cap and capitalised stocks, particularly in companies such as GTCO, Seplat Energy, Transcorp, FirstHoldco, Access Holdings Company, and Zenith Bank, among others. The market breadth was favorable, with 33 advancers compared to 19 decliners, contributing to a year-to-date return of 55.06 percent.

Seplat Energy led the gainers, rising by 10 percent to close at N12320.00 per unit, while Total and HMCall topped the losers' chart, each dropping by 10 percent. Trading volume increased by 105.215 million shares, while transaction value decreased by 15.01 percent to N29.87 billion.