SAT DEC 21 2024-theGBJournal| The NGX All-Share index fell 0.12% on Friday but it was not enough to deter the index from scoring its biggest weekly gain since 15 March 2024.
In Friday’s trading session, losses in ARADEL (-9.09%), WAPCO (-2.84%) and TRANSCORP (-0.58%) outweighed the gains in GTCO (+5.56%), ZENITHBANK (+2.34%) and OANDO (+1.46%) dragging down the market.
Consequently, the year-to-date (YTD) return decreased to +35.25%, while the market capitalization slipped by N72.09 billion.
However, bargain-hunting in ARADEL (+20.7%) following ministerial consent for the acquisition of Shell Petroleum Development Company (SPDC) by Renaissance Africa Energy Limited, as well as strong performances by GTCO (+7.7%), and TRANSCOHOT (+9.4%) caused the All-Share Index (ASI) to advance by 1.8% w/w to 101,129.09 points.
All other indices finished higher with the exception of NGX Industrial Goods and NGX Sovereign Bond which depreciated by 0.86% and 0.06% respectively while the NGX ASeM index closed flat.
The market capitalization gained N1.06tn w/w to close at N61.30 trillion while Month-to-Date and Year-to-Date returns settled higher at +3.7% and +35.2%, respectively.
Also, trading activities were mixed, as trading volume declined by 6.3% w/w, while trading value increased by 84.9% w/w. Total turnover of 2.536 billion shares worth N91.382 billion in 51,406 deals were traded over all.
Trading in the top three equities namely Sterling Financial Holdings Company Plc, Wema Bank Plc and E-Tranzact International Plc (measured by volume) accounted for 623.895 million shares worth N3.981 billion in 1,544 deals, contributing 24.61% and 4.36% to the total equity turnover volume and value respectively
Analysing by sectors, the Insurance (+8.8%), Banking (+3.2%), Consumer Goods (+2.9%), and Oil & Gas (+1.0%) indices advanced, while the Industrial Goods (-0.9%) index declined.
Sixty-one equities appreciated in price during the week, higher than fifty-one equities in the previous week. Twenty-six equities depreciated in price lower than thirty-five in the previous week, while sixty-six equities remained unchanged, lower than sixty-seven recorded in the previous week.
Meanwhile, trading in the shares of Flour Mills of Nigeria Plc (the Company) was suspended on Monday, 16 December 2024.
The NGX Exchange said the suspension is necessary to prevent trading in the shares of the Company in preparation for the delisting of the securities of the Company in line with the approval obtained from Nigerian Exchange Limited (NGX).
In a separate development, the NGX30M5 and NGXPENSIONM5 Futures Contracts were listed on Nigerian Exchange Limited (NGX) on Monday, 16 December 2024.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
