NGX All-Share Index posts rebound, gains 0.60%



Uba Group

Opening the week, the local bourse rebounded by 0.60 percent to settle at 62,943.35 points.

Investor interest in ZENITHBANK (+4.46%), GEREGU (+6.06%) and GTCO (+0.89%) were the primary drivers of the overall market’s strong performance offsetting losses in DANGCEM (-1.49%), NB (-5.13%) and DANGSUGAR (-3.10%).

As a result, the year-to-date (YTD) return rose to 22.81 percent, while market capitalization gained N203.44bn to close at N34.27trn.

Analysis of Monday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 56.66 percent.

A total of 710.02m shares valued at N13.83bn were exchanged in 8,979 deals. STERLINGNG (+9.97%) led the volume chart with 65.95m units traded while DANGCEM (-1.49%) led the value chart in deals worth N7.49bn.

Market breadth closed positive at a 1.61 to-1 ratio with advancing issues outnumbering declining ones.

FIDELITYBNK (+10.00%) topped 28 others on the leader’s table, while UBN (-10.00%) led 17 others on the laggard’s log.