Equities Market Ends the Week Positive, up N1.67bn w/w

Having gained in four of five trading sessions, the equities market of the Nigerian Exchange Limited (NGX), ended last week’s activities on a positive note on Friday, gaining N1.67billion Week-on- Week (W-o-W) to close at N38.56trillion.

Specifically, the All Share Index (ASI) up by 0.22 per cent to close at 70,196.77 points, hence, inched higher by 4.56 per cent w/w, while the market capitalization gained N1.67billion w/w to close at N38.56trillion.

Closing figures for the week, showed that buying interests in Telco Heavyweight, AIRTELAFRI (+5.66%), alongside GTCO (+0.43%), and DANGSUGAR (+0.48%) offset selloffs in MTNN (-2.50%), BUACEMENT (-4.29%) and UBA (-2.39%) kept the market in the positive terrain.

Over the course of the week, strong performances in DANGCEM (+5.77% w/w), AIRTELAFRI (+27.85% w/w), and ZENITHBANK (+2.10% w/w) drove the market’s positive performance, outweighing losses in MTNN (-5.07% w/w), BUACEMENT (-5.01% w/w) and GTCO (-0.57% w/w).

As a result, the year-to-date (YTD) return rose to 36.97 per cent, while analysis of Friday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 50.50 per cent.

A total of 410.36million shares valued at N9.16billion were exchanged in 6,436 deals. FIDELITYBK (+0.60%) led the volume chart with 61.10 million units traded while AIRTELAFRI (+5.66%) led the value chart in deals worth N2.22billion.

Market breadth closed flat. INTBREW (+9.64%) topped 18 others on the leader’s log while CHAMS (-8.18%) led 13 others on the laggard’s table.