Market capitalisation closes at N28.66trm as Access Bank, ETI record gains

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BY BAMIDELE FAMOOFO

Uba Group

Activities in the equities market on Thursday recorded an upbeat as market capitalisation closed higher at N28.66 trillion, gaining N5.94 billion in one day.

Gains in WAPCO Plc (+1.02%), Access Corporation Plc (+0.56%) and Ecobank Transnational Incorporated (+1.30%) offset the declines in Zenith Bank Plc (-0.20%), GTCO (-0.41%) and UBA (-1.23%).

Activity on the Lagos bourse was mixed, albeit with a bullish tilt as the benchmark index closed marginally higher (+0.02%) at 52,626.42 points. Subsequently, the market remains on track for a weekly gain. The year-to-date (YTD) return rose to 2.68 percent.

Analysis of Thursday’s market activities showed trade turnover settled lower relative to the previous session with the value of transactions down by 59.32 percent. A total of 129.04 million units of shares valued at N1.82 billion were exchanged in 3,183 deals. Zenith Bank Plc (-0.20%) led the volume and value charts with 18.55 million units traded in deals worth N455.74 million.

Market breadth closed positive at a 1.82-to-1 ratio with advancing issues outnumbering declining ones. LINKASSURE (+8.33%) led nineteen (19) others on the gainer’s table while CHAMS (-7.14%) topped ten (10) others on the laggard’s log.