Ending the week, the Lagos bourse maintained the bullish trend for the third consecutive session as the benchmark index closed 0.17 per cent stronger to settle at 49,316.29 points, the highest point since September 21.

Buying interests in ZENITHBANK (+2.55%), GTCO (+1.95%) and GEREGU (+3.92%) were the primary drivers of the market performance. Having gained in four out of five trading sessions last week, the ASI recorded a 0.89 per cent w/w gain, up for the fifth straight week.

During the week, strong performances across BUACEMENT (+6.60% w/w), ZENITHBANK (+9.05% w/w) and WAPCO (+2.98% w/w) were sufficient to offset the losses in MTNN (-0.47% w/w), GTCO (-0.48% w/w) and NB (-1.30%). As a result, the year-to-date (YTD) return rose to 15.45 per cent, while the market capitalisation gained ₦236.58 billion w/w to close at ₦26.86 trillion.

Analysis of Friday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 5.73 per cent. A total of 103.71m shares valued at ₦2.01 billion were exchanged in 3,280 deals. ZENITHBANK (+2.55%) led the volume and value charts with 14.13 million units traded in deals worth ₦338.03 million.

Market breadth closed positive at a 1.36-to-1 ratio, with advancing issues outnumbering declining ones. UPDC (+10.00) topped fourteen (14) others on the leader’s log, while ACADEMY (-9.70%) led ten (10) others on the laggard’s table.

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