…In Friday’s trading session, the domestic bourse gained 25bps, as the benchmark index closed at 98,247.99 points.
…The ASI year-to-date return increased to 31.39%
SAT SEPT 21 2024-theGBJournal| The Nigerian equities market gained for the second consecutive week, closing higher by the end of trading on Friday, and capping up the week that saw the first major easing of inflation rate in years.
Market capitalization jumped by N454.86 billion w/w to close at N56.47 trillion.
The NGX benchmark index, the All-Share Index raced up 81bps week-on-week as rally in MTNN (+3.95% w/w), GEREGU (+15.00% w/w) and GTCO (+3.26% w/w) outweighed selloffs in ZENITHBANK (-0.26% w/w), OANDO (-7.36% w/w) and FBNH (-5.17%w/w).
In Friday’s trading session, the domestic bourse gained 25bps, as the benchmark index closed at 98,247.99 points. As a result, the ASI year-to-date return increased to 31.39%, while the market capitalization gained N140.46 billion.
Similarly, all other indices finished higher with the exception of NGX MERI Value, NGX Consumer Goods, NGX Industrial Goods, NGX Growth and NGX Sovereign Bond which depreciated 0.34%, 0.77%, 0.13%, 10.85% and 3.59% respectively while the NGX ASeM index closed flat.
A total turnover of 1.860 billion shares worth N38.445 billion in 40,228 deals was traded in the week by investors, in contrast to a total of 2.584 billion shares valued at N51.205 billion that exchanged hands last week in 50,615 deals.
Market breadth closed positive at a 1.74-to-1 ratio with advancing issues outnumbering declining ones.
Forty-one equities appreciated in price during the week lower than fifty-two equities in the previous week. Forty equities depreciated in price higher than thirty one in the previous week, while seventy equities remained unchanged, higher than sixty-eight recorded in the previous week.
Sectoral performance was mixed with the NGX Pension Index (+1.89%w/w) leading the gainers log, followed by the NGX Banking Index (+1.26%w/w), the NGX 30 Index (+1.09%w/w), the NGX Insurance Index (+0.86% w/w) and the NGX Oil and Gas Index (+0.02%w/w). Contrarily, the NGX Consumer Goods Index (-0.77%w/w) and NGX Industrial Index (-0.13%w/w) closed down.
Trading in the top three equities namely Japaul Gold & Ventures Plc, FBN Holdings Plc and UACN Plc (measured by volume) accounted for 728.034 million shares worth N10.029 billion in 4,374 deals, contributing 39.14% and 26.09% to the total equity turnover volume and value respectively.
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