October 04, (THEWILL) – Renewed investor interest in Bua Cement (+9.94% against N9.94 per share), Zenith Bank (+0.16% on N31.50) and GTCO (+2.18% against N2.28 per share) were the primary drivers of the overall market’s strong performance outweighing the decline in MTNN (-1.52% from N260), FBNH (-0.6n1% from N16.25) and WAPCO (-1.50% against 29.50).
As a result, the year-to-date (YTD) return rose to 30.28%, while market capitalization gained ₦212.81 billion to close at ₦35.54 trillion.
Opening the week, the local bourse rebounded, up 0.59% – recovering some prior week losses to settle at 66,770.97 points.
Analysis of Tuesday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 15.02%.
A total of 364.32m shares valued at ₦3.85bn were exchanged in 7,537 deals. Fidelity Bank (+1.20%) led the volume chart with 33.22m units traded while GTCO (+2.18%) led the value chart in deals worth ₦752.68m.
Market breadth closed positive at a 1.11-to-1 ratio with advancing issues outnumbering declining ones. Bua Cement (+9.94%) led nineteen (19) others on the leader’s log while Linkage Assurance (-10.00%) topped seventeen (17) 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.
