Nigerian stock market Analysis: Investors gain ₦219.14bn on Friday
In Friday’s trading session, the Nigerian stock market analysis reveals that the market broke its streak of eight consecutive losses, as the benchmark index experienced a rebound of 40 basis points, closing at 97,745.73 points. The recovery was fueled by investor interest in GTCO (+2.27%), ZENITHBANK (+2.86%), and UBA (+1.26%). As a result, the year-to-date return of the All-Share Index rose to 30.72%, and the market capitalization increased by ₦219.14 billion today.
However, there was a week-on-week decline of 0.46%. This downturn was primarily influenced by selling pressures in MTNN (-5.00% w/w), FBNH (-2.38% w/w), and UBA (-4.75% w/w). Consequently, the market capitalization decreased by ₦107.70 billion, settling at ₦55.50 trillion.
Nigerian stock market analysis of Friday’s activities indicated that trade turnover was lower compared to the previous session, with transaction values decreasing by 53.68%. A total of 210.91 million shares, valued at ₦3.95 billion, were traded across 6,603 transactions. UBA led both the volume and value charts, with 37.64 million shares exchanged in deals worth ₦752.02 million.
The market breadth concluded positively, with a ratio of 3.40-to-1, as advancing stocks outnumbered those that declined. OKOMUOIL (+10.00%) emerged at the top of the leader’s list, while MECURE (-9.82%) led the laggards.
In terms of sector performance, the NGX Consumer Goods Index (-3.33% w/w) was the worst performer, followed by the NGX Pension Index (-0.97% w/w), the NGX 30 Index (-0.60% w/w), the NGX Banking Index (-0.48% w/w), and the NGX Industrial Index (-0.01% w/w). Conversely, the NGX Oil and Gas Index (+4.27% w/w) and the NGX Insurance Index (+1.59% w/w) recorded gains.
