TUE, MAY. 09 2023-theGBJournal|Nigerian Stocks stayed positive for the second trading day of the, extending gains for the fourth consecutive session. The market closed higher consequently as the benchmark index gained 0.05% to settle at 52,605.78 points.
Gains in Tier-1 banking names ZENITHBANK (+0.41%) and GTCO (+0.41%) were the main drivers of the market’s overall performance, outweighing losses in ACCESSCORP (-1.30%), DANGSUGAR (-0.52%) and UBN (-1.41%).
As a result, the year-to-date (YTD) return rose to 2.64% while the market capitalization rose by N14.70bn to close at N28.64tn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 0.09%. A total of 640.97m shares valued at N7.13bn were exchanged in 5,684 deals. ACCESSCORP (-1.30%) led volume and value charts with 129.73m units traded in deals worth N1.48bn.
Market breadth closed positive at a 1.53-to-1 ratio with advancing issues outnumbering declining ones. CONOIL (+10.00%) topped twenty-two others on the leader’s log while UNITYBNK (-9.26%) topped fourteen others on the laggard’s table.
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