BY BAMIDELE FAMOOFO
In the last trading session of the month, Nigerian equities staged a rebound, recouping prior session losses as the benchmark index ended 0.39 percent stronger to settle at 49,836.51 points, the highest point since 11 August.
Gains in BUAFOODS (+4.48%), FBNH (+2.29%), ACCESSCORP (+1.84%) and WAPCO (+4.60%) were the primary drivers of the broader index’s recovery. As a result, the ASI’s year-to-date (YTD) return rose to 16.67 percent, while the market capitalisation gained N104.54 billion to close at N26.88 trillion.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 5.35 percent. A total of 367.34 million shares valued at N3.24 billion were exchanged in 3,725 deals. STERLNBANK (+1.97%) led the volume chart with 162.45 million units traded, while MTNN (+0.00%), for the second straight session, led the value chart in deals worth N873.29 billion.
Market breadth closed positive at a 1.82-to-1 ratio, with advancing issues outnumbering declining ones. GUINNESS (+9.88) topped nineteen (19) others on the leader’s log, while CHIPLC (-7.69%) led ten (10) others on the laggard’s table.