…Key drivers of Friday’s trading session included MTNN (+10.3%), BUACEMENT (+4.4%), FBNH (+15.3%) and increased demand for TRANSCORP (+10.0%)
SAT, MAR 09 2024-theGBJournal| The Nigerian equities market finished the week on a positive note, as the ASI surged by 99 basis points day-on-day and 261 basis points week-on-week to close at 101,330.85 points.
Key drivers of Friday’s trading session included MTNN (+10.3%), BUACEMENT (+4.4%), FBNH (+15.3%) and increased demand for TRANSCORP (+10.0%) – after the recent listing of its subsidiary (TRANSPOWER) on the NGX on 04 March.
Moreover, the year-to-date return saw a 35.52% improvement, while market capitalization settled at N57.30 trillion compared to N56.74 trillion the previous day.
However, market breadth remained weak at 0.34x, with 56 decliners outnumbering 19 gainers.
Trade metrics analysis revealed a disparity between volume and value. Volume traded decreased by 2.58% week-on-week to 358.12 million units, while value surged by 193.09% to N19.88 billion.
In Friday’s session, TRANSCORP led in volume with 92.87 million units, followed by TRANSPOWER with 30.51 million units and UBA with 26.19 million units.
Regarding the top-valued equities of the day, TRANSPOWER took precedence, with TRANSCORP and MTNN following suit.
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