Post MPC: NGX All-Share Index maintains bull run, up 0.60% on Tuesday

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BY BAMIDELE FAMOOFO

Uba Group

For the third consecutive session, the Lagos bourse maintained the bull run bringing the benchmark index up by 0.60 percent to close at 44,929.33 points after the close of the Monetary Policy Committee in Abuja on Tuesday.

Buying interest in telco heavyweight, MTNN (+1.52%) and BUAFOODS (+1.27%) were the major drivers of the market’s positive performance. Consequently, the year-to-date (YTD) return rose to 5.18 percent, with the market capitalisation increasing by N123.91bn to close at N24.47trn.

Analysis of Tuesday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 97.51 percent. A total of 126.56m shares valued at N3.85bn were exchanged in 3,383 deals. ZENITHBANK (+1.84%) led the volume chart with 13.55m units traded while MTNN (+1.52%) led the value chart in deals worth N2.40bn.

Market breadth closed positive at a 6.75-to-1 ratio with advancing issues outnumbering declining ones. UPDCREIT (+10.00%) topped twenty-six (26) others on the gainer’s table, while PRESCO (-7.17%) led three (3) others on the laggard’s log.