NGX All-Share Index opens the week bullish, gains 0.12%

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BY BAMIDELE FAMOOFO

Uba Group

Opening the week, the local bourse rebounded, up 0.12 percent to settle at 52,657.69 points. Investors interest in telco heavyweight, MTNN (+0.04%) as well as ZENITHBANK (+0.61%) and GTCO (+0.21%) were the primary drivers of the overall market’s strong performance.

Consequently, the year-to-date (YTD) return rose to 2.74 percent, while market capitalization gained N34.32 billion to close at N8.68 trillion.

Analysis of Monday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 5.44 percent.

A total of 143.74 million shares valued at N1.78 billion were exchanged in 4,078 deals.

FBNH (+0.00%) led the volume chart with 19.66 million units traded while MTNN (+0.04%) led the value chart in deals worth N326.85 million.

Market breadth closed positive at a 1.23-to-1 ratio with advancing issues outnumbering declining ones.

CHAMS (+7.69%) topped thirteen (13) others on the gainer’s table, while CORNERST (-10.00%) led ten (10) others on the laggard’s log.