July 17, (THEWILL) – The local bourse opened the week Monday, rebounding by 0.60% to settle at 62,943.35 points, against 62.569.73 points on Friday.
Market capitalisation rose by N204 billion to close at N34.27 trillion from N34.06 trillion in the last trading day.
Investor interest in ZENITHBANK (+4.46% against N33.95 share price), GEREGU (+6.06% from N350 per share) and GTCO (+0.89% N34 share price) were the primary drivers of the overall market’s strong performance offsetting losses in DANGCEM (-1.49% against N330), NB (-5.13% against N37 share price) and DANGSUGAR(-3.10% from N28.10).
As a result, the year-to-date (YTD) return rose to 22.81%.
Analysis of the day’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 56.66%. A total of 710.02 million shares valued at ₦13.83 billion were exchanged in 8,979 deals.
STERLINGNG (+9.97%) led the volume chart with 65.95 million units traded while DANGCEM (-1.49%) led the value chart in deals worth ₦7.49 billion.
Market breadth closed positive at a 1.61 to-1 ratio with advancing issues outnumbering declining ones. FIDELITYBK (+10.00%) topped twenty-eight (28) others on the leader’s table, while UBN (-10.00%) led seventeen (17) others on the laggard’s log.
On the exchange rate, Naira climbed by 1 percent to close at N795.28/4 against N803.90 on Friday at the I&E window, while hitting N810 at the parallel market.
Volume traded was unavailable at the time of this report.
About the Author
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.
