October 06, (THEWILL) – Gains in Access Corporation, WAPCO, and UBA, contributed to lift the stock market by N140.77 billion on Thursday.
The three fortune-raisers earned +0.31% (against N16.15 per share), +0.51% (against N29.60 share price) and +0.30% (against N16.75 share price) in their prices respectively, thus out-weighting losses in Flour Mill (-1.52% from N32.50 per share), Transcorp (-0.33% against N6.06 share price), and UCAP (-1.16% from N17.00 per share), to keep the market in the green.
Recovering from the previous session’s loss, the domestic bourse posted gains as the benchmark index rose by 0.13% to close at 66,570.19 points.
Accordingly, the market is on track for a week of gain.
As a result, the year-to-date (YTD) return rose to 29.89%, while market capitalization gained ₦140.77 billion to close at ₦36.53 trillion.
Analysis of Thursday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 2.95%.
A total of 1.01 billion shares valued at ₦4.73 billion were exchanged in 6,959 deals. Neimeth (+0.00%) led the volume and value charts with 657.09 million units traded in deals worth ₦985.65 million.
Market breadth closed positive at a 1.33-to-1 ratio with advancing issues out-numbering declining ones. Wema Bank (+9.93%) led 15 others on the leader’s log while Champion Breweries (-9.87%) topped eleven 11 others on the laggard’s table.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
