ZENITH, STANBIC, INTBREW, and DANGCEM Keep The Stock Market bullish
Despite recording three consecutive sessions of losses earlier in the week, the Nigerian Exchange (NGX) managed to sustain its bullish trajectory from the previous week. The NGX All-Share Index (ASI) advanced by 0.20% week-on-week (w/w), closing at 142,132.02 points. Consequently, the year-to-date (YTD) return rose to 38.09%, up from 37.81% last week, while market capitalization expanded by ₦215.84 billion to settle at ₦89.96 trillion.
The positive momentum was largely fueled by buying interest in heavyweight and mid-cap stocks. ZENITHBANK (+9.14% w/w), STANBIC (+9.29% w/w), INTBREW (+10.08% w/w), and DANGCEM (+1.72% w/w) delivered notable gains, which helped cushion losses from some banking and telecom counters such as MTNN (-3.45% w/w), FIRSTHOLDCO (-2.82% w/w), FIDELITYBK (-11.08% w/w), and WEMABANK (-12.41% w/w).
Sectoral Market Overview
The NGX witnessed a mixed sectoral performance during the week. Gains were recorded in:
- Industrial Goods (+1.33% w/w)
- Banking (+1.19% w/w)
- Consumer Goods (+1.15% w/w)
On the other hand, declines were noted in the Insurance sector (-0.91% w/w) and the Oil & Gas sector (-2.34% w/w).
Daily Trading Session Highlights
In today’s trading session, the market closed positive, with the NGX ASI gaining 0.70% and market capitalization increasing by 0.69%. However, trading activity weakened significantly as transaction volume and value fell by 90.53% and 95.70%, respectively.
- ABBEYBDS (0.00%) led the day’s volume with 50.03 million units traded.
- STANBIC (+2.00%) topped the value chart, recording ₦4.17 billion worth of trades.
Overall, market breadth closed positive at 1.64x, indicating more gainers than losers. THOMASWY (+10.0%) led the 35 gainers, while FIDELITYBK (-10.0%) topped the list of 22 laggards. Other stocks remained unchanged.
NASD OTC Market Update
In the NASD OTC Securities Exchange, both the index and market capitalization closed the week higher by 0.32% w/w, settling at 3,535.41 points and ₦2.12 trillion, respectively.
However, today’s session closed negative as the market dipped 0.08%, despite a significant rebound in activity. Transaction volume surged by 1,834.48% and value rose by 108.48%, showing renewed investor interest. The session ended with SDGEFLUID (-9.34%) emerging as the top decliner, while no gainers were recorded.
