Business and Economy

Nigerian stock market shed 0.01% on Friday but closed 0.35% higher week-on-week

The All-Share Index fell 0.01% to settle at 59,206.63 points on Friday as tye NGX exchange closed mixed with a bearish slant. As a result the All-Share Index closed 0.35% higher week-on-week, extending gains for the fifth week after rising in three of the five trading sessions this week.

The All-Share Index year-to-date (YTD) return decreased to 15.52%, while the market capitalization increased by N110.42 billion weekly to close at N32.24 trillion.

The market fell as a result of declines in GTCO (-0.16%), STANBIC (-4.07%), and WAPCO (-0.52%) offsetting demand for ZENITHBANK (+0.63%), ACCESSCORP (+0.34%), and FBNH (+3.59%).

Despite the collapse in AIRTELAFRI (-1.72% w/w), MTNN (-3.10% w/w), and GEREGU (-3.85% w/w), bullish feelings in DANGCEM (+1.23% w/w), BUACEMENT (+4.65% w/w), and ZENITHBANK (+3.23% w/w) in the week were large enough to move the market’s performance into the green.

The value of transactions increased by 38.23% on Friday and trade turnover settled higher than it did on Thursday. In total, 6,953 transactions involving 627.87 million shares for a total of N9.15 billion were completed. With 62.69 million units traded, UBA (+1.33%) led the volume chart, and GTCO (-0.16%), with trades totaling N1.55 billion, led the value table.

On the leader’s log, TRANSCOHOT (+10.00%) outperformed twenty-five (25) rivals, while UNITYBNK (-9.84%) outperformed eighteen (18) rivals.

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