Equities market up by N44.77bn in one week

NGX, market

By Temitope Adebayo

The equities market of the Nigerian Exchange Limited (NGX) at the close of last week trading activities appreciated N44.77 billion, as the market capitalization closed at N28.65trillion week-on- week (w/w).

Although, the All-Share Index (ASI) at the last session of the week, slipped by 0.06 per cent to close at 52,594.68 points, but increased by 0.16 per cent w/w.

On market movers, selloffs in NESTLE (-1.81%), ZENITHBANK (-0.20%), and GTCO (-1.03%) offset the gains in FBNH (+0.86%) and UBA (+0.62%) keeping the market’s overall performance in the red.

Over the course of the week, gains in AIRTELAFRI (+3.87% w/w), FBNH (+0.42% w/w) and ETI (+3.87% w/w) outweighed losses in DANGCEM (-1.85% w/w), ZENITHBANK (-4.31% w/w) and GTCO (-1.63% w/w).

Consequently, the year-to-date (YTD) return rose to 2.62 per cent.

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Analysis of the last Friday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 7.42 per cent. A total of 443.75million shares valued at N1.68billion were exchanged in 3,100 deals.

ACCESSCORP (+0.00%) led the volume chart with 11.35m units traded while NESTLE (-1.81%) led the value chart in deals worth N487.65million.

Market breadth closed flat. CORNERST (+7.14%) led eleven (11) others on the gainer’s table while LINKASSURE (-9.62%) topped eleven (11) others on the laggard’s log

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