SAT FEB 01 2025-theGBJournal|The NGX All-Share Index and Market Capitalization 0.87% and 1.67% to closed the week at 104,496.12 and N64.709 trillion respectively as investors responded positively to a slew of corporate earnings results and dividend declarations.
Gains in NESTLE (+11.4%), STANBIC (+8.2%) and NB (+15.5%) drove the All-Share Index (ASI) higher with the Year-to-Date return settling at +1.6%.
Similarly, all other indices finished higher with the exception of NGX Insurance and NGX Industrial Goods, which depreciated by 2.86%, and 0.52% respectively while the NGX ASeM closed flat.
Trading in the top three equities namely Secure Electronic Technology Plc, FBN Holdings Plc and Japaul Gold and Ventures Plc, (measured by volume) accounted for 998.467 million shares worth N6.604 billion in 4,426 deals, contributing 30.77% and 9.54% to the total equity turnover volume and value respectively.
However, trading activity was mixed as the total trading volume advanced by 6.3% w/w, while trading value declined by 8.0% w/w. Sectoral performance was mixed as the Consumer Goods (+4.0%), Banking (+2.5%) and Oil & Gas (+1.0%) indices gained, while the Insurance (-2.9%) and Industrial Goods (-0.5%) indices settled lower.
Looking ahead, market performance is expected to be influenced by the ongoing earnings season, with sentiment likely remaining positive for companies delivering strong earnings and attractive dividends.
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