Equities market sustains bullish momentum as capitalisation hits N35.84trn



Uba Group

For the third consecutive session, the Lagos bourse maintained the Bull Run bringing the benchmark index up by 0.44 percent to close at 65,488.67 points.

Market capitalisation increased by N157.58 billion to close at N35.84 trillion.

As a result, the year-to-date return rose to 27.78 percent.

Sustained buying interest in BUAFOODS (+7.91%), alongside DANGSUGAR (+3.89%), and GUINNESS (+2.81%) offset losses in ZENITHBANK (-0.44%), GTCO (-0.14%) and ACCESSCORP (-1.17%).

Analysis of Tuesday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 3.25 percent.

A total of 293.46 million shares valued at N4.12 billion were exchanged in 5,895 deals. TRANSCORP (+2.28%) led the volume chart with 41.44 million units traded while MTNN (+0.00%) led the value chart in deals worth N791.46 million.

Market breadth closed negative at a 2.00-to-1 ratio with declining issues outnumbering advancing ones.

NB (-10.00%) led 19 others on the laggard’s log while CORNERST (+9.84%) topped nine others on the leader’s table.