Nigeria Stock Market NGX All-Share Index extends rally by 0.89% to settle at 49,316.29 points on Friday

The benchmark index of the Nigeria Stock Exchange (NGX All-Share Index) concluded the week with a 0.17% gain to settle at 49,316.29 points, the highest level since September 21. There was 3,280 deals involving 103,710,207 stocks and valued at N2,007,231,003.73. This continued the bullish trend that had been in place for the previous three sessions. The main factors influencing the performance of the market were buying activity in ZENITHBANK (+2.55%), GTCO (+1.95%), and GEREGU (+3.92%). The ASI registered a 0.89% week-over-week rise, up for the fifth consecutive week, after rising in four out of the five trading sessions this week.

The week’s losses in MTNN (-0.47% w/w), GTCO (-0.48% w/w), and NB (-1.30%) were more than offset by the good performances of BUACEMENT (+6.60% w/w), ZENITHBANK (+9.05% w/w), and WAPCO (+2.98% w/w). As a result, the market capitalization increased by N236.58 billion, and the year-to-date (YTD) return w/w to close at ₦26.86trn.

A review of today’s market activity revealed that trade turnover was lower than it had been during the previous session, with a 5.73% decrease in transaction value. 3,280 transactions involving 103.71 million shares worth N2.01 billion were completed. With 14.13 million units traded in transactions for 338.03 million, ZENITHBANK (+2.55%) topped the volume and value charts. At a ratio of 1.36 to 1, the market breadth closed in the positive, with more rising issues than declining ones. On the leader’s log, UPDC (+10.00) outperformed fourteen (14) other participants, whereas ACADEMY (-9.70%) outperformed ten (10) other participants