BY BAMIDELE FAMOOFO
Nigerian equities recovered as the benchmark Index rose by 0.16 percent to settle at 52,290.75 points.
Bullish sentiment in telco heavyweight, MTNN (+0.22%), alongside GTCO (+4.12%) and WAPCO (+0.42%) drove the market’s rebound.
The gain puts the index on track for a weekly gain. Consequently, the year-to-date (YTD) return rose to 2.03 percent , with market capitalisation gaining N45.18bn to close at N28.47trn.
Analysis of Thursday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions down by 39.36 percent.
A total of 1.27 billion shares valued at N7.01billion were exchanged in 5,963 deals. TRANSCORP (-6.11%) led the volume chart with 811.20 million units traded while ACCESSCORP (+1.90%) led the value chart in deals worth N2.35 billion.
Market breadth closed positive at a 2.17-to-1 ratio with advancing issues outnumbering declining ones. MBENEFIT (+10.00%) topped twenty-five (25) others on the leader’s log while UPL (-8.29%) topped eleven (11) others on the laggard’s table.