Chinwendu Obienyi
After recording a loss in Monday’s trading session, bargain hunting by investors in the shares of Airtel Africa, BUA Cement and Zenith Bank spurred market’s All Share Index (ASI) by 0.30 per cent at yesterday’s trading session. This was even as market capitalisation advanced N37 billion to settle at N12.570 trillion while YTD loss improved to -10.2 per cent.
However, the volume and value of stocks traded fell 18.0 and 7.1 per cent to 155.5 million units and N2.6 billion respectively. The most active stocks by volume were GT Bank (19.7 million units), Access Bank (13.0 million units) and MTNN (10.2 million units) while MTNN (N1.2 billion), GT Bank (N413.8 million) and Zenith Bank (N129.8 million) led by value.
Speaking on the performance of the market, Afrinvest analyst in an emailed note to Daily Sun, said, “Given the low prices, we expect bargain hunting to continue in the near term”.