THUR 31 MARCH, 2022-theGBJournal| For the second consecutive trading session, Nigerian equities extended gains from yesterday’s session as the benchmark index closed 0.13% stronger, recovering all the losses of the week to close at 46,965.48 points – the highest point since 23 March 2022. The gain puts the index on track for another week of gain since the week ended 11 March 2022.
Buying interest in telco heavyweights, MTNN (+1.90%) and AIRTELAFRI (+0.03%) drove the market’s strong performance. In addition, gains in FBNH (+6.90%), STANBIC (+0.44%) and OKOMUOIL (+4.32%) helped keep the market in the positive terrain, offsetting the sustained rout in Tier-1 banks, ZENITHBANK (-1.54%), GTCO (-2.61%), ACCESSCORP (-2.50%) and UBA (-1.28%). Consequently, the year-to-date (YTD) return rose to 9.95%, while market capitalization gained N32.87bn to close at N25.31trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions advancing by 39.66%. A total of 256.02m shares valued at N3.66bn were exchanged in 4,227 deals. FIDELITYBK (+1.59%) led the volume chart with 77.34m units traded, while AIRTELAFRI (+0.03%) led the value chart in deals worth N1.14bn.
Market breadth closed negative at a 2.14-to-1 ratio with declining issues outnumbering advancing ones. NNFM (-10.00%) led twenty-nine (29) others on the laggard’s table, while MEYER (+10.00%) topped thirteen (13) others on the gainer’s log.
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