April 28 (Lagos) - The domestic bourse consolidated on yesterday's positive activity, closing 95bps higher, with market breadth at 5.71x, after a total of 40 counters closed in the green.
Among others, the drivers of today's positive close include;
AIRTELAFRI (+434bps),
TOTAL (+996bps),
WAPCO (+320bps) and
ZENITHBANK (+227bps), while banking counters - ACCESSCORP (-236bps),
FIDELITYBK (-657bps), and JAIZBANK (-326bps) formed part of the 7 decliners. Activity-wise, trades remain elevated on the back of the large volume trades in
TRANSCORP (1.1 billion units), as total traded volume jumped 172% to 1.4 billion units, while turnover improved by 43% to N 7.2 billion, due to low price of the stock that dominated activity.
What will shape the market tomorrow?
We still expect another positive market breadth, amid mixed sectoral performance, as Q1 earnings expectation continue to dictate market direction in the short-term.
On the bid Cart:
TOTAL was marked down by N 21.00 today, opening the session at ?197.80. However, the stock went on to close the day higher by 9.96% to settle at N 217.50, improving its YTD gain to 12.69%.
On the Offer Cart: Following the positive closes seen last week in FIDELITYBK, investors took profit once again, as the banking counter closed as the worst performing stock, reducing its YTD return to 20.92%.