How the Nigerian stock exchange sustained bullish run with 2.37% rise w/w

• The Nigerian stock exchange sustained its bullish run from the previous week, as the NGX All Share Index (ASI) rose by 2.37% w/w, to close at 146,988.04 points. This led to an uplift in the year-to-date (YTD) return to 42.81% from the 39.50% recorded in the previous week. The market capitalisation also added N2.16trn w/w, settling at N93.30trn.
• The bullish momentum was driven by notable demand in heavyweight stocks such as DANGCEM (+9.50% w/w), MTNN (+10.82% w/w), SEPLAT (+10.00% w/w), which outweighed selloffs recorded in TRANSCORP (-3.15% w/w), OANDO (-4.36% w/w), and ACCESSCORP (-1.89% w/w).
• Sectoral performance was broadly positive, with only the Banking Index (-0.41% w/w) closing in the negative territory. Conversely, the Industrial Goods Index (+4.23% w/w) led the gainers’ table, followed by Insurance (+3.69% w/w), Oil & Gas (+2.90% w/w), and Consumer Goods (+0.83% w/w) indices.
• In today’s session, the market closed positive with the NGX ASI and market capitalisation gaining 0.54%, respectively. However, market activity was mixed, with transaction volume rising by 11.41% while value of trades was down by 58.93%. FIDELITYBK (-0.98%) dominated volume chart with 47.34mn, while SEPLAT led the value chart with N1.29bn worth of trades.
• Market breadth closed negative at 0.86x, reflecting more decliners than gainers. DANGCEM (+6.48%) led the twenty-three (23) gainers, while MEYER (-9.85%) topped the twenty-eight (2) laggards, with the rest of the stocks closing flat.

NASD Summary

• The NASD closed the week positive, with the NASD OTC Securities Index (NSI) and market capitalisation rose by 0.08% w/w, closing at 3,451.40 points and N2.07trn, respectively.
• The market also closed lower today, down by 0.54%. However, market activity improved sharply, as transaction volume increased by 50.33% while value surged by 3,992.52%.
• SDAGMBANK (+8.04%) topped the market gainers, while SDACORN (-0.77%) led the laggards’ log.