stock market return swell to 51.22% with capitalization now at N98.79trn
- The Nigerian stock exchange sustained its bullish momentum for the seventh consecutive week, as the NGX All Share Index (ASI) rose by 4.48% w/w to close at 155,645.05 points. This pushed the year-to-date Nigerian stock market return to 51.22% from the 44.74% in the preceding week. The market capitalization grew by N4.23trn w/w to settle at N98.79trn.
- The bullish sentiment was spurred by broad-based demand in heavyweight counters such as BUAFOODS (+6.54% w/w), DANGCEM (+10.83% w/w), MTNN (+8.56% w/w) and BUACEMENT (+12.50% w/w), which outweighed profit-taking in the banking names including STANBIC (-9.15% w/w), GTCO (-0.86% w/w), ZENITHBANK (-1.47% w/w), and ACCESSCORP (-2.53% w/w).
- Sectoral performance was mixed, with the Banking Index (-1.35% w/w) and Insurance (-1.10% w/w) closing in the negative territory. Conversely, the Industrial Index (+10.61% w/w) maintained its leading position among market gainers, followed by the Oil & Gas (+9.13% w/w) and Consumer Goods (+3.94% w/w) indices.
- In today’s session, the market similarly closed higher, with the NGX ASI and market capitalisation gained 0.75%, respectively. Market activity improved compared to the previous session, with the transaction volume and value increased by 30.72% and 16.83%, respectively. FIDELITYBK (+0.25%) led trading activity with the 820.91mn units traded valued at N16.14bn worth of trades.
- Market breadth closed positive at 1.32x, reflecting more gainers than decliners. IKEJAHOTEL (+7.89%) led the thirty-three (33) gainers, while NEIMETH (-6.67%) topped the twenty-five (25) laggards, with other stocks closing flat.
NASD Summary
- The NASD closed the week on a positive note, as the NASD OTC Securities Index (NSI) and market capitalisation advanced by 0.94% w/w, to close at 3,654.80 points and N2.19trn, respectively.
- Similarly, the market closed higher in today’s session, appreciating by 0.34%. Market activity also rose sharply, with transaction volume and value rose by 156.19% and 30.81%, respectively.
- SDCSCSPLC (+7.47%) topped the market gainers, while SDFCWAMCO (-2.10%) led the laggards’ log.
