BUA Cement drives NGX Index up 0.02% despite losses in Zenith Bank, others

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BY BAMIDELE FAMOOFO

Uba Group

A 3.07 percent recorded by BUA Cement Plc on Wednesday, drove the equities market into the green despite losses in Zenith Bank Plc, GTCO Plc and Access Corporation Plc. The shares of Zenith Bank lost (-1.49%), GTCO (-4.00%) and ACCESSCORP (-2.98%).

Consequently, the year-to-date (YTD) return rose to 15.11 percent, as market capitalization gained N12.47bn to close at N26.53trn.

The domestic bourse ended the session mixed albeit with a bullish tilt as the benchmark Index managed to eke out a meager 0.02 percent gain to close at 49,171.70 points.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 25.36 percent. A total of 101.57m shares valued at N1.20bn were exchanged in 3,981 deals. GTCO (-4.00%) led the volume and value charts with 14.34m units traded in deals worth N259.04m.

Market breadth closed negative at a 2.86-to-1 ratio with declining issues outnumbering advancing ones. JAPAULGOLD (-10.00%) topped nineteen (19) others on the laggard’s table, while CHAMS (+8.00%) led six (6) others on the leader’s log.BUA Cement drives NGX Index up 0.02% despite losses in Zenith Bank, others