Market capitalisation of 190 equities listed on the floor of the Nigerian Stock Exchange (NSE) increased by N144 billion yesterday.
The equities value which started yesterday with N8.736 trillion, rose by 1.65 per cent to close at N8.880 trillion.
As analysts anticipated that current momentum will extend a little further, they also expected to see some profits taking in the near term as investors looked to book profits and the market hits the overbought region.
They said that the current dynamics called for caution, especially on tactical and speculative plays.
Consequently, the NSE All Share Index appreciated by 419.47 basis points or 1.65 per cent to close at 25,816.29 points, compared with the 2.25 per cent appreciation recorded previously.
The huge return recorded in the last six trading days placed the year-to-date return at negative 9.87 per cent as against 13 per cent of Thursday last week.
Market turnover closed positively as volume moved up by 15.41 per cent against 72.21 per cent uptick recorded in the previous session. Zenith Bank Plc, FCMB Plc and FBN Holdings Plc were the most active to boost market turnover. Zenith Bank Plc topped the market value list.
Union Bank of Nigeria Plc led the list of active stocks that recorded impressive volume spike at the end of the trading session.
