In today’s session, the market similarly closed higher, with the NGX ASI and market capitalisation gained 0.75%, respectively. Market activity improved compared to the previous session, with the transaction volume and value increased by 30.72% and 16.83%, respectively. FIDELITYBK (+0.25%) led trading activity with the 820.91mn units traded valued at N16.14bn worth of trades.
Market breadth closed positive at 1.32x, reflecting more gainers than decliners. IKEJAHOTEL (+7.89%) led the thirty-three (33) gainers, while NEIMETH (-6.67%) topped the twenty-five (25) laggards, with other stocks closing flat.
NGX Summary
The Lagos bourse sustained its bullish momentum for the seventh consecutive week, as the NGX All Share Index (ASI) rose by 4.48% w/w to close at 155,645.05 points. This pushed the year-to-date (YTD) return to 51.22% from the 44.74% in the preceding week. The market capitalisation also appreciated by N4.23trn w/w to settle at N98.79trn.
The bullish sentiment was spurred by broad-based demand in heavyweight counters such as BUAFOODS (+6.54% w/w), DANGCEM (+10.83% w/w), MTNN (+8.56% w/w) and BUACEMENT (+12.50% w/w), which outweighed profit-taking in the banking names including STANBIC (-9.15% w/w), GTCO (-0.86% w/w), ZENITHBANK (-1.47% w/w), and ACCESSCORP (-2.53% w/w).
Sectoral performance was mixed, with the Banking Index (-1.35% w/w) and Insurance (-1.10% w/w) closing in the negative territory. Conversely, the Industrial Index (+10.61% w/w) maintained its leading position among market gainers, followed by the Oil & Gas (+9.13% w/w) and Consumer Goods (+3.94% w/w) indices.
NASD Summary
The NASD closed the week on a positive note, as the NASD OTC Securities Index (NSI) and market capitalisation advanced by 0.94% w/w, to close at 3,654.80 points and N2.19trn, respectively.
Similarly, the market closed higher in today’s session, appreciating by 0.34%. Market activity also rose sharply, with transaction volume and value rose by 156.19% and 30.81%, respectively.
SDCSCSPLC (+7.47%) topped the market gainers, while SDFCWAMCO (-2.10%) led the laggards’ log.
