NGX ASI maintains its uptrend, gaining 125bps

The bulls retained their grip in the local market for the second consecutive session as the All Share Index gained 125bps to close at 105,530.74 points. The outturn was primarily driven by price appreciations in MTNN (+10.00%), ZENITHBANK (+4.49%) and OANDO (+0.40%) outweighing selloffs in FBNH (-1.27%) and WAPCO (-1.41%), and leaving the market in the positive terrain and on track for another weekly gain. The year-to-date (YTD) return added 125bps to 2.53% while market capitalization added ₦792.73bn to close at ₦64.35tn. 
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 48.09%. A total of 481.69m shares valued at ₦12.82bn were exchanged in 12,824 deals. UNIVINSURE (+9.86%) led the volume chart with 97.24m units while SEPLAT (+0.00%) led the value chart with deals worth ₦4.56bn.
Market breadth closed negative at a 1.42-to-1 ratio with advancing issues outnumbering the advancing ones. MTNN (+10.00%) topped thirty-three (33) others on the leader’s table while RTBRISCOE (-10.00%) led twenty-three (23) others on the laggard’s log.