Stock market maintains bullish run, gains N42.7 billion

The Nigerian Exchange Ltd., (NGX) extended its bullish trend on Thursday, as market capitalisation gained N42.75 billion to close at N28.528 trillion from N28.485 trillion recorded on Wednesday.

Similarly, the All-Share Index (ASI) increased by 0.15 per cent to close at 52,917.76 points, compared to the 52,838.45 points recorded on Wednesday.

Analysts at Vetiva Dealing and Brokerage said, “The market saw some course-correction after yesterday’s impressive gains as predicted, with profit-taking observed on some of the strong performers this week.

“In tomorrow’s session, we anticipate further gains on fundamentally sound names, even as other tickers which have enjoyed investors’ patronage in recent sessions shed some points.”

The market’s positive performance was driven by price appreciation in large and medium capitalised stocks which are; Glaxosmith, Presco, International Breweries, Okumu Oil and among others.

The market breadth was…

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