BY BAMIDELE FAMOOFO
In the seventh consecutive session of gain – the longest winning streak since between 8 April and 9 May – bullish sentiment pervaded the Lagos bourse as the benchmark index posted a 0.05 percent gain to close at 49,499.43 points, the highest point since 15 September.
Gains in GTCO (+0.45%), FBNH (+4.05%) and STANBIC (+3.90%) drove the market’s positive performance, outweighing losses in DANGCEM (-0.50%), ZENITHBANK (-0.82%) and NB (-0.53%). As a result the year-to-date (YTD) return rose to 15.88 percent while the market capitalization gained N13.07bn to close at N26.96tn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 50.47 percent. A total of 132.57m shares valued at N3.14bn were exchanged in 2,999 deals. FBNH (+4.05%) led the volume chart with 29.10m units traded, while AIRTELAFRI (+0.00%) led the value charts in deals worth ₦925.10m.
Market breadth closed positive at a 1.08-to-1 ratio with advancing issues outnumbering declining ones. JBERGER (+9.91%) topped thirteen (13) others on the gainer’s log, while UPDCREIT (-6.45%) led twelve (12) others on the laggard’s table.
