Business and Economy

NGX All-Share Index posts weekly gains 3.71% w/w

The Lagos stock exchange ended the week on a positive note, with the All-Share index increasing by 0.99% to close at 105,085.25 points. Despite some sell-offs in TRANSCOHOT, UBA, and ACCESSCORP, the market remained in the green due to buying interests in MTNN, GTCO, and ZENITHBANK. Overall, the ASI closed the week 3.71% higher.

The market’s positive performance was driven by strong showings in MTNN, TRANSPOWER, and GTCO, which outweighed losses in TRANSCOHOT, TRANSCORP, and OANDO. As a result, the year-to-date return rose to 40.54% and the market capitalization gained ₦2.12trn to close at ₦59.42trn.

Today’s market activities showed a decrease in trade turnover compared to the previous session, with the value of transactions down by 32.43%. A total of 217.21m shares valued at ₦5.01bn were exchanged in 6,457 deals. FBNH led both the volume and value chart with 29.58m units traded in deals worth ₦1.06bn.

Market breadth ended on a positive note, with advancing issues outnumbering declining ones. GTCO topped the leader’s table, while INTENEGINS led the laggard’s log along with seventeen others.

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