Business and Economy

NGX All-Share Index gained 2.87% on Friday and 13.84% strong w/w

The week ended well for the Nigerian stock exchange as the All-Share index increased by 2.87% to close at 94,538.12 points. As a result, the market remained in positive territory. Throughout the week, the ASI gained 13.84%, closing 13.84% higher week-on-week. This was primarily driven by sustained buying interests in industrial heavyweights DANGCEM (+9.98%) and BUACEMENT (+10.00%), as well as MTNN (+0.69%), which offset the selloffs in GTCO (-3.08%), FBNH (-1.30%), and NB (-4.76%).

The market’s positive performance was largely influenced by strong showings from DANGCEM (+53.94% w/w), BUACEMENT (+48.80% w/w), and GEREGU (+17.72% w/w), which outweighed the losses in GTCO (-4.75% w/w), FBNH (-5.00% w/w), and STANBIC (-4.41% w/w). Consequently, the year-to-date return rose to 26.43%, and the market capitalization increased by ₦6.30trn to close at ₦51.74trn.

Trade turnover however decreased in comparison to Friday session with the value of transactions down by 32.67%. A total of 759.14m shares valued at ₦12.99bn were exchanged in 14,988 deals. TRANSCORP (-2.86%) topped the volume chart with 80.32m units traded, while ZENITHBANK (+1.58%) led the value chart with deals worth ₦1.55bn. LASACO (-9.85%) was the top laggard among thirty-four others, while BUACEMENT (+10.00%) led thirty-two others on the leader’s log.

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