SAT FEB 15 2025-theGBJournal| The NGX benchmark index, the All-Share Index, finished the week with a 2% gain, despite a week marked by mixed trading performance while Market Capitalization closed 2.78% higher to N67.418 trillion.
Market performance was driven by driven primarily by buying interest in DANGCEM (+21.8%), as well as strong performances in TRANSCORP (+11.1%), MTNN (+3.6%), and TRANSCOHOT (+10.0%).
All other indices finished higher with the exception of NGX Main Board, NGX Banking, NGX AFR Bank Value, NGX AFR Div Yield, NGX MERI Growth, NGX Consumer Goods and NGX Oil and Gas which depreciated by 0.79%, 0.24%, 0.39%, 1.26%, 1.03%, 3.63% and 2.30% respectively while the NGX Sovereign Bond index closed flat.
Trading in the top three equities namely Sterling Financial Holdings Company Plc, Access Holdings Plc and Secure Electronic Technology Plc (measured by volume) accounted for 455.469 million shares worth N5.273 billion in 6,654 deals, contributing 18.87% and 9.50% to the total equity turnover volume and value respectively.
The market experienced three days of gains and two days of losses. This fluctuating pattern highlights underlying volatility, yet the overall performance underscores a robust weekly gain.
On Friday, the NGX All-Share Index (NGXASI) declined by 1.02% to 108,053.95, wiping off N690 billion in market capitalization, reflecting profit-taking and weak sentiment despite increased trading activity.
Volume traded rose 12.1% to 478.76 million units, while value jumped 51.22% to N13.91 billion, suggesting stronger institutional participation, even as total trades fell 4.46% to 15,613 deals.
Market breadth stood at 1.36, with an Up/Down (UD) ratio of 1.95, indicating more advancers than decliners. ROYALEX (+10.00%), UPDC (+9.88%), TIP (+9.76%), and REDSTAREX (+9.09%) led the gainers’ chart.
BUAFOODS (-10.00%), DAARCOMM (-9.09%), ARADEL (-6.90%), and LIVESTOCK (-6.09%) dragged the market lower, signaling sectoral weakness and potential portfolio rebalancing by investors
Analysts expect market sentiment to be driven by more corporate earnings updates in the coming as well as key economic data releases and policy decisions, with a particular focus on January inflation figures and CBN’s monetary policy decision.
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