THUR 14 APRIL, 2022-theGBJournal | Closing the holiday shortened week, the domestic bourse ended the session on a positive note, bringing the All-Share index up by 0.40% to close at 47,558.45 points, the highest point since 17 September 2008.
Meanwhile, a total turnover of 1.247 billion shares worth N22.372 billion in 23,406 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.137 billion shares valued at N10.812 billion that exchanged hands last week in 23,471 deals, according to NGX data.
Gains in industrial heavyweight, DANGCEM (+2.38%) alongside GTCO (+0.41%), NB (+2.74%) and WAPCO (+0.43%) cemented the market’s strong performance. Consequently, having gained in all four trading sessions this week, the ASI closed 2.00% higher w/w, its first week of gain since the week ended 11 March 2022, ending four successive weeks of losses. Market Capitalization was also 1.99% to N25,639 trillion.
Over the course of the week, the rally in index heavyweights, MTNN (+3.40% w/w), DANGCEM (+2.38% w/w) and most Tier-1 banks, ZENITHBANK (+8.70% w/w), GTCO (+6.52% w/w), UBA (+4.46% w/w) and ACCESSCORP (+4.59% w/w) drove the market’s strong performance. Consequently, the year-to-date (YTD) return rose to 11.34%, while the market capitalization gained N499.75bn w/w to close at ₦25.64trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions declining by 59.58%. A total of 385.18m shares valued at N4.02bn were exchanged in 6,212 deals. FIDELITYBK (+2.67%) led the volume chart with 74.82m units traded, while ZENITHBANK (-0.40%) led the value chart in deals worth N778.00m.
Market breadth closed positive at a 1.31-to-1 ratio with advancing issues outnumbering declining ones. SFSREIT (+10.00%) topped twenty (20) others on the gainer’s log, while DANGSUGAR (-5.09%) led fifteen (15) others on the laggard’s table.
The Financial Services Industry (measured by volume) led the activity chart with 975.776 million shares valued at N10.678 billion traded in 13,097 deals; thus contributing 78.24% and 47.73% to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 65.187 million shares worth N1.752 billion in 2,725 deals. The third place was The Services Industry, with a turnover of 42.614 million shares worth 135.745 million in 1,172 deals.
Trading in the top three equities namely Guaranty Trust Holding Company Plc, Zenith Bank Plc and Fidelity Bank Plc (measured by volume) accounted for 429.657 million shares worth N7.786 billion in 5,871 deals, contributing 34.45% and 34.80% to the total equity turnover volume and value respectively.
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