Stocks market rebounds, up N31.81bn
By Temitope Adebayo
The equities market on Tuesday recovered from the previous session’s loss, as the market capitalization gained N31.81billion to close at N39.08trillion, higher than N39.05trillion listed on Monday.
The Lagos bourse, also, recorded gains as the benchmark index rose by 0.08 per cent to close at 71,066.55 points, which was also stronger than 71,008.70 points declared the previous trading session.
Gains in Tier-1 Banking Names, ZENITHBANK (+0.15%), GTCO (+0.54%) and UBA (+0.73%) contributed to outweigh losses in INTBREW (-2.17%), OANDO (-3.72%) and FCMB (-1.45%), keeping the market in the green.
As a result, the year-to-date (YTD) return rose to 38.66%, wAnalysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 26.07%.
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A total of a 491.40m shares valued at ₦3.22bn were exchanged in 6,549 deals.
UNITYBNK (9.38%) led the volume chart with 75.44m units traded while VFDGROUP (0.00%) led the value chart in deals worth ₦481.81m.Market breadth closed positive at a 5.50-to-1 ratio, with advancing issues outnumbering declining ones. MECURE (+10.00%) topped forty-three (43) others on the leader’s log, while CHAMPION (-10.00%) led seven (7) others on the laggard’s table.
