Nigerian stock markets rakes in 1.57% gain w/w
Despite profit-taking activities in the final two trading sessions, the Nigerian stock market concluded the week on a positive note. The All-Share Index (ASI) edged higher by 1.57% week-on-week (w/w), settling at 119,995.76 points. This performance was primarily driven by gains in bellwether stocks such as ZENITHBANK (+16.23% w/w), BUACEMENT (+8.53% w/w), MTNN (+0.45% w/w), and TRANSCORP (+2.77% w/w). These gains offset declines observed in BUAFOODS (-6.46% w/w), GTCO (-2.88% w/w), OANDO (-7.38% w/w), and ARADEL (-4.15% w/w). Consequently, market capitalization increased by N1.43 trillion w/w, closing at N75.96 trillion.
However, the market traded bearishly today for the second consecutive session, with the ASI shedding 0.64%. This downturn was spurred by selloffs in BUACEMENT (-9.92%), OANDO (-8.72%), GTCO (-0.60%), and TRANSCORP (-0.10%), which outweighed gains in DANGSUGAR (+1.38%), NB (+0.34%), AIICO (+0.63%), and CADBURY (+0.61%), resulting in a negative daily close. Following the week’s performance, the year-to-date (YTD) return on the ASI stands at 16.58% (up from 14.78% last week), and market capitalization’s YTD growth reached 21.03% (compared to 18.75%).
Analysis of today’s market activities showed a decrease in trade turnover compared to the previous session, with declines of 29.92% and 29.87% in volume and value traded, respectively. A total of 625.78 million units valued at N12.78 billion were exchanged in 21,800 deals. JAPAULGOLD (+6.64%) led the volume chart with 88.26 million units traded, while ZENITHBANK (-0.51%) led the value chart with N1.76 billion.
Market breadth closed negative with a loser-to-gainer ratio of 0.84x, indicating that declining stocks outnumbered advancing ones. NEIMETH (+10.0%) topped the twenty-seven (27) gainers, while LEGENDINT (-9.98%) led the thirty-two (32) losers. The remaining stocks on the exchange closed flat.
Sector performance for the week was predominantly bullish, led by the NGX Banking Index with a gain of +6.26% w/w. This was followed by the NGX Insurance Index (+6.13% w/w) and the NGX Consumer Goods Index (+5.98% w/w). In contrast, today’s session saw only the NGX Consumer Goods Index close positively (+0.17%), with other major sectors trading bearishly.
NASD Summary
The NASD OTC Security Index (NSI) gained 0.92% today, extending its positive weekly performance to +0.37% w/w and closing at 3,351.2 points. Market capitalization mirrored this trend, increasing to N1.96 trillion.
Trading activity on the NASD was mixed today. Volume traded declined by 25.71% to 221,449 units, while the total value of transactions increased by 13.81% to N8.68 million. A total of 28 deals were recorded during the session.
