Equities market gains N236.58bn in one week
By Temitope Adebayo
The equities market of the Nigerian Exchange (NGX) ended last week’s trading activities on a bullish trend, as the market capitalisation appreciated byN236.58billion week on week (w/w) to close at N26.86 trillion.
Also, the All Share Index (ASI) gained 0.17 per cent stronger to settle at 49,316.29 points, the highest point since 21 September.
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 (4) out of five (5) trading sessions this week, the ASI recorded a 0.89% w/w gain, up for the fifth straight week.
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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 capitalization gained ₦236.58bn w/w to close at N26.86trillion.
Analysis of today’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 N2.01 billion were exchanged in 3,280 deals. ZENITHBANK (+2.55%) led the volume and value charts with 14.13m units traded in deals worth N338.03 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.
