Nigerian stock market gains 0.10% higher on Friday but ended the week negative with 0.48% w/w

The NGX All-Share Index closed with a gain of 0.10% on friday to close at 52,214.62 points. the ASI concluded 0.48% lower w/w. As a result, the year-to-date (YTD) return fell to 1.88%, while market capitalization fell N137.02 billion w/w to close at N28.43 trillion. Renewed interest in Tier 1 banking names such as ZENITHBANK (+0.42%), GTCO (+1.04%), and STANBIC (+0.27%) propelled the broader index higher.

The largest drags on the entire market were selloffs in BUACEMENT (-8.02% w/w), ZENITHBANK (-0.21% w/w), and ACCESSCORP (-12.00 w/w), which offset gains in BUAFOODS (+2.63% w/w), MTNN (+0.04% w/w), and STANBIC (+1.62% w/w).

Trade turnover ended with the value of transactions increasing by 109.53% as a total of 5,527 transactions involving 1.42 billion shares worth N10.98 billion were exchanged. FIDELITYBK (+1.20%) lead the volume and value charts, with 942.77 million units exchanged in transactions worth N5.52 billion. ACADEMY (+9.87%) led twenty-five (25) other teams on the leader’s board, while COURTVILLE (-6.52%) led nine (9) other teams on the laggard’s board.