The Nigerian Exchange Limited (NGX) sustained rising profile, yesterday, as market capitalisation appreciating by N677 billion, amid gains in Betaglas and 42 stocks.

Market capitalisation of listed equities increased by 0.92 per cent to N74.358 trillion from N73.681 trillion reported the previous day. The all share index also appreciated by 1074.26 points to 117861.13 points from 116786.87 points traded on Wednesday.

The uptrend was fueled by bargain hunting in large and medium capitalised stocks amongst which are Betaglas, Julius Berger, Stanbic IBTC, NAHCO, MTN and United Bank for Africa (UBA).

On what will shape the market in the next trading session, analysts at Vetiva Dealings and Brokerage said: “We expect the market to maintain its bullish momentum in tomorrow’s session, supported by sustained investor interest in the banking sector, particularly in names previously flagged for non-compliance with regulatory thresholds.

“With these banks publicly committing to swift alignment with regulatory guidelines, investor sentiment remains positive, and accumulation in the space is likely to persist.”

On the price movement chart, Ikeja Hotel led gainers table with 10 per cent to close at N15.40 kobo. Betaglass followed with a gain of 9.98 per cent to close at N276, Legend Internet added 9.92 per cent to close at N7.20 kobo, UPL gained 9.85 per cent to close at N6.02 kobo. Eterna Plc also gained 9.82 per cent to close at N42.50 kobo.

On the contrary, Guinea Insurance topped losers chart, dropping by 9.21 per cent to close at 69 kobo. HMCall trailed with a loss of 5.88 per cent to close at N4. C& I Leasing was down by 5.84 per cent to close at N4.35 kobo.

Mcnichols dipped by 5.58 per cent to close at N2.20 kobo, Fidson health also shed 4.65 per cent to close at N41. Volume of transactions also increased by 253.88 basis points, representing 39.66 per cent as investors traded 893.965 million shares valued at N22.029 billion in 17257 deals.

Trading in the shares of Champion Breweries led market activities with 332.298 million shares worth N2.268 billion, GTCO followed with account of 62.661 million shares worth N5.002 billion.

PZ Cusson exchanged 46.584 million shares cost N1.476 billion, Zenith Bank traded 37.552 million shares valued at N1.886 billion while Access Bank exchanged 35.985 million shares valued at N787.108 million.