Equities market syatains weekly gains by 1.97% to N1.12trn w/w

By Motolani Oseni

Having gained in three of five trading sessions last week, the All Share Index (ASI) closed 1.97 per cent higher, while the market capitalization gained N1.12trillionweek on week (w/w) to close at N57.16trillion.

Also,, the local bourse ended the session on a positive note, bringing the ASI up by 1.57 per cent to close at 104,421.23 points.

This is due to buy interests in MTNN (+5.45%), ZENITHBANK (+2.33%), and GTCO (+2.09%) offset selloffs in STANBIC (-0.08%), UCAP (-0.86%) and NAHCO (-1.58%) keeping the market in the positive terrain.

Over the course of the week, strong performances in DANGCEM (+9.93% w/w), BUACEMENT (+2.98% w/w) , and BUAFOODS (+4.86% w/w) drove the market’s positive performance, outweighing losses in ZENITHBANK (-8.14% w/w), UBA (-8.20% w/w), and GUINNESS (-9.96% w/w).

Consequently, the year-to-date (YTD) return rose to 39.65 per cent.

Analysis of the last trading day of the week, showed that market activities’ trade turnover settled higher relative to the previous session, with the value of transactions up by 93.13 per cent.

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Hence, a total of 943.51million shares valued at N23.48billion were exchanged in 11,512 deals. FBNH (+9.85%) led both the volume and value chart with 338.84million units traded in deals worth N8.88billion.

Market breadth closed positive at a 4.75-to-1 ratio with advancing issues outnumbering the declining ones. TRANSCORP (+10.00%) topped fifty-six (56) others on the leader’s table while JOHNHOLT (-10.00%) led eleven (11) others on the laggard’s log.