Equities Market up 2.61% as Investors Gain N3.26trn w/w

Having gained in trading sessions last week, the Nigerian Exchange Limited (NGX) equities market closed the week higher by 2.61 per cent, while investors’ wealth increased by N3.26 trillion week-on-week (w/w).

Specifically, the All Share Index (ASI) closed 2.61 per cent higher than the previous, while the market capitalization gained N3.2 6trillion to close last week’s trading activities at N57.29 trillion.

The local bourse ended the week’s last trading session on a positive note, bringing the ASI up by 0.99 per cent to close at 101,330.85 points.

Due to buy interests in MTNN (+9.99%), ZENITHBANK (+0.15%), and DANGSUGAR (+9.98%) offset selloffs in FBNH (-1.07%), TRANSCORP (-0.58%) and FIDELITYBK (-3.38%) keeping the market in the positive terrain.

Over the week, strong performances in BUACEMENT (+4.44% w/w), MTNN (+10.31% w/w), and GEREGU (+2.35% w/w) drove the market’s positive performance, outweighing losses in ETI (-17.01% w/w), NB (-10.77% w/w), and INTBREW (-10.21% w/w).

Consequently, the year-to-date (YTD) return rose to 35.52 per cent, as analysis of the last trading session’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 12.11 per cent.

358.12 million shares valued at N19.88 billion were exchanged in 10,786 deals. TRANSCORP (-0.58%) led the volume chart with 92.87 million units traded, while TRANSPOWER (+0.00%) led the value chart with deals worth N11.65 billion.

Market breadth closed positive at a 1.33-to-1 ratio with advancing issues outnumbering the declining ones. MTNN (+9.99%) topped 27 others on the leader’s table while FTNCOCOA (-9.80%) led 20 others on the laggard’s log.