Extending gains for the fifth consecutive session, the Lagos bourse closed higher as the benchmark index gained 0.81% to settle at 46,604.94 points, the highest level since 14 October. Telco heavyweight, AIRTELAFRI (+6.30%) as well as BUAFOODS (+6.11%) were the major drivers of the market’s strong performance. Accordingly, the market remains on track for the second weekly gain in the month. The ASI’s year-to-date (YTD) return rose to 9.10%, with the market capitalisation up by ₦202.93bn to close at ₦25.38trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 17.84%. A total of 138.60m shares valued at ₦2.17bn were exchanged in 3,434 deals. STERLNBANK (+0.00%) led the volume chart with 24.25m units traded while AIRTELAFRI (+6.30%) led the value chart in deals worth ₦791.28m.
Market breadth closed negative at a 0.76-to-1 ratio with declining issues outnumbering advancing ones. NESTLE (-10.00%) led twenty (20) others on the laggard’s log while MANSARD (+8.57%) topped fifteen (15) others on the gainer’s table. SOURCE: Coronation Securities Limited