All-Share Index Recoups Losses, Up 0.20%

Source: New Telegraph
Author: Rhoda Ogunseye

The Nigerian equities staged a re - bound yesterday, recouping prior session losses as the benchmark index ended 0.20 per cent stronger to settle at 99,832.25 points.

Gains in Tier-1 bank - ing names, GTCO (+2.44%), ZENITH - BANK (+2.86%) and UBA (+6.24%) were the primary drivers of the broader index's recovery, offsetting losses in ACCESSCORP (-1.55%), TRANSCORP (-2.33%) and ETI (-9.92%).

Having gained in two of three trading sessions, the market is on track for a week of gain. The ASI year-to-date (YTD) return rose to 33.51 per cent, while market capi - talisation gained N114.12 billion to close at N56.47 trillion.

Analysis of the day's market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 47.72 per cent.

A total of 502.60 million units of shares val - ued at N8.65 billion were exchanged in 9,686 deals. ZENITHBANK (+2.86%) led the volume and value chart with 71.22 million units traded in deals worth N2.52 billion.

Market breadth closed positive at a 1.56-to-1 ratio with advancing issues outnumbering declining ones.

NB (+10.00%) led 27 others on the leader's table, while ETI (-9.92%) topped 17 others on the laggards log.