Business and Economy

Investors gain N253b Friday as Year-to-Date return rose 2.46% in the stock market

The stock market ended the week with 0.89% gain and the All-Share Index closing at 52,512.48 points and 2.52% higher week over week,. Turnover was lower with a 66.96% decrease in transaction value. In 4,591 transactions, a total of 217.16 million shares worth N2.55 billion were exchanged.

The year-to-date (YTD) return increased to 2.46% and the Market Capitalization increased by N253 billion to close at N28.602 trillion in a similar vein, while the Year-to-Date (YtD) returns were 2.46%. Since the year’s start, the stock market has increased by 463.63 basis points.

Telco heavyweight MTNN (+4.50%), ZENITHBANK (+1.79%), and WAPCO (+1.81%) helped to lift the market. The largest contributors to the week’s gain were DANGCEM (+3.05% w/w), MTNN (+6.93% w/w), and BUACEMENT (+3.59% w/w). ZENITHBANK (+1.79%), which exchanged 20.31 million units for deals totaling 517.74 million.

Twenty-eight (28) other people trailed TOTAL (+10.00%) on the gainer’s table, while six (6) other people trailed FIDSON (-4.60%) on the laggard’s log.

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