TUE 12 APRIL, 2022-theGBJournal | For the second consecutive session in the week, Nigerian equities extended the strong bullish run as the benchmark index inched up by 0.72% to close at 47,205.03 points, the highest point since 21 March 2022.
Sustained investor interests in telco heavyweight, MTNN (+1.25%), following the final approval of its MoMo PSB license by the Central Bank of Nigeria (CBN), as well as bargain hunting in Tier-1 banks, ZENITHBANK (+5.83%), ACCESSCORP (+4.00%), GTCO (+3.05%) and UBA (+0.63%), were today’s market movers, as was in the previous session.
In addition, gains in NB (+7.84%), SEPLAT (+2.60%) and WAPCO (+1.10%) contributed to bolster the overall market’s strong performance. Consequently, the year-to-date (YTD) return rose to 10.51%, while market capitalization gained N181.73bn to close at N25.45trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions advancing by 19.80%. A total of 245.42m shares valued at N4.58bn were exchanged in 5,832 deals. GTCO (+3.05%), for the second consecutive session, led the volume chart with 39.09m units traded, while SEPLAT (+2.60%) led the value chart in deals worth N984.84m.
Market breadth closed positive at a 1.77-to-1 ratio with advancing issues outnumbering declining ones. CAP (+10.00%) topped twenty-nine (29) others on the gainer’s log, while ACADEMY (-10.00%) for the second consecutive session, led sixteen (16) others on the laggard’s table.
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