NGX ASI gains 99bps, investors reap ₦987.18bn

Opening the week, the Lagos bourse gained 0.99% to settle at 103,149.35 points. Investors interest in MTNN (+7.11%), BUAFOODS (+5.09%) and FBNH (+0.36%) were the primary drivers of the overall market’s strong performance, outweighing the decline in UBA (-0.72%), OANDO (-0.52%) and  STANBIC (-4.00%). As a result, the year-to-date (YTD) return rose to 37.95%, while market capitalisation gained ₦987.18bn to close at ₦62.90tn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 11.39%. A total of 641.12m shares valued at ₦15.50bn were exchanged in 13,778 deals. UNIVINSURE (+9.09%) led the volume chart with 71.51m units traded while GTCO  (+0.00%)  in deals worth ₦3.11bn.
Market breadth closed positive at a 1.76-to-1 ratio with advancing issues outnumbering the declining ones. MECURE (+10.00%) topped thirty-six (36) others on the leader’s table while PZ (-10.00%) led twenty (20) others on the laggard’s log.