SAT DEC 14 2024-theGBJournal| The NGX All-Share index advanced by 119bps week-on-week, having gained in four of the five trading sessions.
Investor’s interest in MTNN (+3.47% w/w), ARADEL (+18.28% w/w) and ZENITHBANK (+0.11% w/w) bolstered the market’s performance, overriding selloffs in GTCO (-0.47% w/w), UBA (-1.62% w/w) and ACCESSCORP (-2.62%w/w).
Accordingly, the market capitalization added N707.61 billion w/w to close at N60.24 trillion.
All other indices finished higher with the exception of NGX 30, NGX Pension, NGX AFR Bank Value, NGX MERI Value, and NGX Industrial Goods which depreciated by 0.09%,
0.07%, 0.71%, 0.86% and 0.60% respectively while the NGX ASeM and NGX Sovereign Bond indices closed flat.
Trading in the top three equities namely Coronation Insurance Plc, E-Tranzact International Plc, and FCMB Group Plc (measured by volume) accounted for 865.665 million shares worth N3.629 billion in 1,149 deals, contributing 31.72% and 7.28% to the total equity turnover volume and value respectively
The market maintained the bullish trend on Friday, as the All-Share Index and Year-to-date (YTD) return gained 63bps to close at 99,378.06 points and 32.90% respectively.
On market movers, ARADEL (-10.00%), ZENITHBANK (-0.57%) and UBA (-1.06%) underpinned the market’s positive performance resulting in a gain in market capitalization by N374.30bn Friday.
Market activities ended with trade turnover increasing by 50.65%. A total of 544.24m shares valued at N10.63 billion were exchanged in 8,464 deals.
JAPAULGOLD (+0.00%) led the volume chart with 71.74m units transacted, while DANGCEM (+0.00%) led the value chart in N3.22 billion worth of deals.
Market breadth closed positive at a 2.63-to-1 ratio with advancing issues outnumbering declining ones. ARADEL (+10.00%) topped twenty (20) others on the leader’s log, while ACADEMY (-1.75%) topped seven (7) others on the laggard’s table.
Elsewhere, global stock markets experienced volatile trading this week as investors assessed a wave of economic data, including inflation data from the US, the policy rates adjustment by the European Central Bank (ECB), and updates on China’s economic stimulus measures.
As of the time of writing, US equities (DJIA: -1.6%; S&P 500: -0.6%) were poised to end the week lower as a hotter-than-expected U.S. inflation report dampened market sentiment.
European equities (STOXX Europe: -0.2%, FTSE 100: 0.0%) faced pressure from concerns over slowing economic growth in the UK, potential trade tensions with the US, and political instability in France and Germany.
In Asia, the Japanese market (Nikkei 225: +1.0%) advanced, supported by stronger-than-expected Q3 GDP data and an improvement in the Q4 BSI Manufacturing Index.
Meanwhile, Chinese Equities (SSE: -0.2%) retreated from earlier week gains as investors were unimpressed by the lack of specifics in recent stimulus announcements by Chinese authorities.
The Emerging Market (MSCI EM: 0.7%) closed higher, driven by gains in South Korea (+2.7%), while the Frontier Market (MSCI FM: 0.0%) index closed flat, as gains in Romania (+4.4%) and Iceland (+2.0%) were offset by losses in Vietnam (-0.5%) and Morocco (-0.6%).
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