…Accordingly, the market capitalization gained N270.21 million Friday
…Contrarily, the NGX Industrial Index (-3.67%w/w) closed in the red, primarily driven by selloff in BUACEMENT (-9.99% w/w).
SAT AUG 10 2024-theGBJournal|The Nigerian equities gained 0.87% week-on-week by end of Friday’s trading session as gains in telco giant, MTNN (5.16% w/w) as well as ZENITHBANK (+7.92% w/w) and FBNH (+9.76 w/w%) outweighed selling pressure in blue chip BUACEMENT (-9.99% w/w), TRANSCOHOT (-0.03% w/w) and NESTLE (-1.81% w/w).
Consequently, the year-to-date (YTD) return rose 113bps w/w and the market capitalization gained N480.83 billion w/w to close at N55.98 trillion.
In today’s trading session, the All-Share index gained 48bps to settle at 98,592.12 points. Selloff in GTCO (-0.22%) and PRESCO (-5.17%) were encumbered by demand in MTNN (+0.91%), ZENITHBANK (+2.24%) and FBNH (+0.67%), driving the positive performance.
Accordingly, the market capitalization gained N270.21 million Friday.
Analysis of Friday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 46.00%.
A total of 477.44m shares valued at N8.17 billion were exchanged in 9,529 deals. VERISTASKAP (+4.42%) led the volume chart with 103.24m units traded while OANDO (+9.88%) led the value chart in deals worth N2.13 billion.
Market breadth closed positive at a 2-to-1 ratio with advancing issues outnumbering declining ones. JBERGER (+10.00%) topped thirty-five others on the gainer’s log while UNIONDICON (-9.88%) led seventeen others on the laggard’s table.
Almost a perfect week across the sectors, the NGX Banking Index (+5.14%w/w) led the leaders log, followed by the NGX Pension Index (+3.48%w/w), the NGX Consumer Goods Index (+2.35%w/w), the NGX Insurance Index (+1.79% w/w), the NGX Oil and Gas Index (+0.97%w/w) and the NGX 30 Index (+0.81%w/w).
Contrarily, the NGX Industrial Index (-3.67%w/w) closed in the red, primarily driven by selloff in BUACEMENT (-9.99% w/w).
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