The Nigerian equities staged a rebound, recouping the prior session losses as the benchmark index closed 0.47% stronger to settle at 100,503.21 points, the highest point since 15 April. Gains in telco heavyweight AIRTELAFRI (+4.76%) and ACCESSCORP (+0.26%) pushed the broader index into the positive terrain, offsetting losses in GTCO (-0.44%), ZENITHBANK (-7.00%) and FBNH (-4.00%). As a result, the market is on track for a weekly gain. The year-to-date return rose to 39.08%, while the market capitalization gained ₦262.82bn to close at ₦56.91trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 17.30%. A total of 392.80m shares valued at ₦8.33bn were exchanged in 9,013 deals. GTCO led the volume chart with 39.75m units traded while AIRTELAFRI (+4.76%) led the value chart with deals worth ₦2.25bn.
Market breadth closed negative at a 0.82-to-1 ratio with declining issues outnumbering the advancing ones. LINKASSURE (-10.00%) topped twenty-seven (27) others on the laggard’s table while UCAP (+9.92%) led twenty-two (22) others on the leader’s log.
