Business and Economy

Nigerian stock market ends the week negative, down 0.08% w/w

The Nigerian stock market’s weak performance of the broader index during the week was primarily driven by a selloff in SEPLAT, GTCO, and FBNH, which offset the gains in ZENITHBANK, STANBIC, and NESTLE. As a result, the year-to-date return declined by 8bps and the market capitalization lost ₦44.27bn to close at ₦56.13trn.

However, in today’s trading session, the All-Share index gained 9bps to settle at 99,221.14 points. This was mainly due to the gains in ZENITHBANK, FBNH, and STANBIC, which outweighed the losses in GTCO, FIDELITYBK, and NB. Consequently, the market capitalization gained ₦49.10tn.

An analysis of today’s market activities revealed that trade turnover was higher compared to the previous session, with the value of transactions increasing by 36.55%. A total of 388.02m shares valued at ₦7.35bn were exchanged in 7,106 deals. ACCESSCORP led the volume chart with 81.03m units traded, while ZENITHBANK led the value chart with deals worth ₦1.43bn.

Market breadth closed positive, with advancing issues outnumbering declining ones at a ratio of 1.24-to-1. CHAMS topped the gainer’s log, while ROYALEX led the laggard’s table.

In terms of sectoral breakdown, the NGX Insurance Index led the leaders log, followed by the NGX Consumer Goods Index and the NGX Industrial Goods Index. On the flip side, the NGX Pension Index, NGX Banking Index, NGX 30 Index, and NGX Oil and Gas Index closed in the red.

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