NGX market cap gains on first trading day

After a bearish performance in the previous week, the local bourse yesterday opened on a positive trend with the market eking out 5 basis points (bps) to settle at 98,176.58 points.

Sustained investors’ interest in MTNN (+2.68%), and renewed interest in TRANSCOHOT (+3.03%) were the primary drivers of the overall market’s performance, according to analysis by Coronation Registrars.

The investor’s interest offset sell pressures in GTCO (-1.38%), ZENITHBANK (-3.05%) and FBNH (-0.22%).

Consequently, the year-to-date (YTD) return rose to 31.30%, while market capitalization gained N28.61bn to close at N55.54trn.

Trade turnover settled lower relative to the previous session, with the value of transactions declining by 28.98%.

A total of 405.66m shares valued at N6.69bn were exchanged in 8,439 deals. ACCESSCORP (+0.00%) led the volume value chart with 201.31m units traded in deals worth N3.41bn.

Market breadth closed negative at a 0.43-to-1 ratio with declining issues outnumbering advancing ones. CHAMPION (-10.00%) topped 27 others on the laggard’s table, while BERGER (+9.72%) led 11 others on the leader’s log.