Investment rebounds in stock market as All-Share Index rises by 0.78%



Uba Group

The Lagos bourse rebounded after the previous sessions’ pullback as the benchmark Index gained 0.78 percent to close at 54,224.35 points.

Renewed interest in telco heavyweight, Airtel Africa Plc whose share price gained (+3.85%) pushed the broader index into positive territory. Consequently, the year-to-date (YTD) return rose to 5.80 percent, while market capitalization gained N228.74billion to close at N29.54trillion.

Analysis of Monday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 46.21 percent.

A total of 154.63million shares valued at N5.51billion were exchanged in 3,095 deals. GTCO (-0.20%) led the volume chart with 36.68million units traded while AIRTELAFRI (+3.85%) led the value chart in deals worth N2.94billion.

Market breadth closed negative at a 1.44-to-1 ratio with declining issues outnumbering advancing ones. VITAFOAM (-7.18%) topped twelve (12) others on the laggard’s log while CONOIL (+9.93%) led eight (8) others on the leader’s table.