The bullish sentiment persisted in the Lagos bourse. Renewed buy interests in Telco heavyweight, MTNN (+10.00%), along side sustained interest in TRANSPOWER (+9.99%) and DANGSUGAR (+10.00%) outweighed losses in continued selloff in GTCO (-1.57%), ZENITHBANK (-0.15%), and UBA (-2.27%), keeping the market in the green. As a result, the market is on track for a week of gain. The year-to-date return rose to 34.19%, market capitalisation gained ₦420.47tn to close at ₦56.73tn and the market is now on track for a positive week. Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 9.11%. A total of 554.72m shares valued at ₦17.73bn were exchanged in 9,708 deals. TRANSCORP (-9.95%) led both the volume and value chart with 301.36m units traded in deals worth ₦5.65bn. Market breadth closed negative at a 0.76-to-1 ratio with declining issues outnumbering the advancing ones. GUINNESS (-10.00%) topped thirty-two (32) others on the laggard’s table while MTNN (+10.00%) led twenty-four (24) others on the leader’s log.
