Nigerian stock market makes further gain of 2.35% on Friday

• Despite sell-offs in the first two trading sessions of the week, the Nigerian stock market closed on a positive note, with the All-Share Index (ASI) edging higher by 2.35% w/w to close at 118,138.22 points. Over the course of the week, gains in GTCO (+18.81% w/w), SEPLAT (+9.78% w/w), STANBIC (+9.64% w/w), MTNN (+9.51% w/w), and ARADEL (+7.36%) outweighed losses in OANDO (-11.59% w/w), UBA (-4.84% w/w), FIRSTHOLDCO (-4.43% w/w), and ACCESSCORP (-2.01% w/w). As a result, the market capitalisation gained N1.75trn w/w to close at N74.53trn.
• Today, bullish sentiment persisted on the Lagos bourse as the All-Share Index (ASI) advanced by 0.24%. Buying interest in GTCO (+6.52%), HONYFLOUR (+3.36%), STANBIC (+2.35%), and ACCESSCORP (+0.46%) outweighed losses in DANGSUGAR (-3.61%), BUACEMENT (-2.33%), OANDO (-1.45%), and ZENITHBANK (-0.10%), keeping the market in positive territory. Consequently, the ASI year-to-date (YTD) return rose to 14.78%, while market capitalisation gained 18.75% (YTD).
• Analysis of today’s market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions declining by 10.65%. A total of 522.81 million shares valued at ₦19.68bn were exchanged in 17,706 deals. FIDELITYBK (+1.04%) led the volume chart with 38.29 million units traded, while OKOMUOIL (+4.62%) topped the value chart with trades worth ₦5.19bn.
• Market breadth closed positive at a 1.33-to-1 ratio, with advancing issues outnumbering decliners. LEGENDINT (+10.00%) topped thirty-six (36) gainers, while SUNUASSUR (-8.62%) led twenty-seven (27) losers; the remainder of stocks were unchanged.
• Sector-wise, most indexes closed higher, led by the NGX Oil and Gas Index, which gained 5.27% w/w, followed by the NGX Pension Index (+4.21% w/w), NGX Banking Index (+3.58% w/w), NGX Insurance Index (+2.37% w/w), and NGX Consumer Goods Index (+2.16% w/w). The NGX Industrial Index was the only sector that declined, falling by (-0.36% w/w).

NASD Summary

• Despite the NASD OTC Security Index (NSI) gaining 0.03% in the final session of the week, the benchmark index declined by 0.54% w/w to close at 3,320.9 points. Market capitalisation mirrored this trend, easing to N1.94trn.
• Trading activity showed a mixed picture, with volume traded falling 14.91% to 223,039 units, while the total value of transactions surged by 233.20% to N15.19mn. A total of 21 deals were recorded during the session.