Market capitalisation gains N260bn as index climbs by 0.86%



Uba Group

Extending gains for the fifth consecutive session, the Lagos bourse closed higher on Tuesday as the benchmark index gained 0.86 percent to settle at 55,806.26 points.

Market capitalisation increased by N260.31 billion to close at N30.40 trillion.

Consequently, the year-to-date (YTD) return rose to 8.89 percent. Gains in industry heavyweight, DANGCEM (+2.21%) alongside Tier-1 banking names ZENITHBANK (+2.12%) and GTCO (+2.50%), were the main drivers of the market’s overall performance.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 184.78 percent.

A total of 237.17million shares valued at N4.39billion were exchanged in 4,435 deals. FIDELITYBK (+2.00%) led the volume chart with 39.98million units traded while DANGCEM (+2.21%) led the value chart in deals worth N1.58billion.

Market breadth closed positive at a 6.00-to-1 ratio with advancing issues outnumbering declining ones.

STANBIC (+9.88%) topped twenty-nine (29) others on the leader’s log while FLOURMILL (-8.44%) led four (4) others on the laggard’s table.