SAT DEC 28 2024-theGBJournal| The Nigerian equities market closed out the holiday shortened week positive as the All-Share index gained 0.99% to close at 102,133.30 points on Friday.
All other indices finished higher with the exception of NGX Oil and Gas which depreciated by 0.12% while the NGX ASeM and NGX Sovereign Bond indices closed flat
During the week, gains in MTNN (+10.54% w/w), ZENITHBANK (+0.22% w/w) and UBA (+2.37% w/w) offset losses in ARADEL (-9.64% w/w) and OANDO (-3.09% w/w).
As a result, the year-to-date (YTD) return rose to 36.59%, while the market capitalization gained N608.74 billion w/w to close at N61.91 trillion.
Trading in the top three equities namely United Bank for Africa Plc, Universal Insurance Plc and Zenith Bank Plc (measured by volume) accounted for 294.032 million shares worth N8.117 billion in 3,834 deals, contributing 21.20% and 15.60% to the total equity turnover volume and value respectively.
In Friday’s trading session, the All-Share index lost 5bps as selloff GTCO (-1.64%), UBA (-4.03%) and ACCESSCORP (-2.83%) outweighed gains in FBNH (+0.72%), OANDO (+2.36%) and STANBIC (+1.69%) leading to the market’s weak performance.
Analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 4.24%.
A total of 451.73m shares valued at N17.49 billion were exchanged in 12,551 deals. UBA (-4.03%) led the volume chart with 41.73 million units traded while SEPLAT (+0.00%) in deals worth N3.01 billion.
Market breadth closed positive at a 2.41-to-1 ratio with sixty-four equities appreciating in price during the week, higher than sixty-one equities in the previous week.
Twenty equities depreciated in price lower than twenty-six in the previous week, while sixty-nine equities remained unchanged, higher than sixty-six recorded in the previous week.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
