WED 13 APRIL, 2022-theGBJournal | Extending its winning streak for the third consecutive session, the Lagos bourse maintained the positive momentum as the benchmark index closed 0.34% stronger to close at 47,367.31 points, the highest point since 14 March 2022. The gain puts the index on track for its first week of gain since the week ended 11 March 2022, ending four successive weeks of losses.
Sustained appetite for MTNN (+0.90%), following the final approval of its MoMo PSB license, and Tier-1 banks, GTCO (+3.17%), UBA (+2.50%), FBNH (+2.20%) offset losses in ZENITHBANK (-1.18%) and ACCESSCORP (-0.48%) to keep the market in the green. Consequently, the year-to-date (YTD) return rose to 10.89%, while market capitalization gained N87.48bn to close at N25.54trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions advancing by 117.27%. A total of 391.89m shares valued at ₦9.95bn were exchanged in 5,419 deals. GTCO (+3.17%), for the third consecutive session, led the volume chart with 65.89m units traded, while MTNN (+0.90%) led the value chart in deals worth ₦4.83bn.
Market breadth closed positive at a 1.94-to-1 ratio with advancing issues outnumbering declining ones. MEYER (+9.56%) topped thirty (30) others on the gainer’s log, while SUNUASSUR (-7.69%) led fifteen (15) others on the laggard’s table.
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