The Nigerian equities market sustained its bullish momentum during the week, with the NGX All Share Index (ASI) advanced by 4.26% w/w to a new all-time high of 126,149.59 points.
This pushed the year-to-date ASI return to 22.56% from 17.55% recorded in the previous week. Similarly, the market capitalisation appreciated by N3.46trn w/w (or 4.54% w/w), closing the week at N79.80trn.
The bullish momentum was spurred by strong demand in the telecommunication giant, MTNN (+10.49% w/w), and across all tier-one banking stocks, including, GTCO (+13.10% w/w), ZENITHBANK (+21.22% w/w), UBA (+19.64% w/w), FIRSTHOLDCO (+14.31% w/w), and ACCESSCORP (+10.22% w/w).
These gains outweighed profit-taking in PRESCO (-3.29 w/w), OANDO (-6.09 w/w), and TRANSCORP (-0.20 w/w).
Today’s Market Performance
Analysis of today’s market performance reflects a 1.37% gain in the NGX All-Share Index (ASI) and the market capitalisation, driven by buying interest in MTNN (+1.28%), BUACEMENT (+1.62%), and GTCO (+3.98%), offsetting declines in OANDO (-4.61%), NB (-2.10%) and DANGSUGAR (-1.73%).
Market activity improved compared to previous session, with transaction volume and value increased by 10.19% and 19.82%, respectively. ACCESSCORP (+7.36%) led the volume and value chart, trading with 172.92mn units worth N4.16bn.
Market breadth closed positive at 2.48x, as market gainers outnumber losers. CADBURY (+10.0%) led the sixty-two (62) gainers, while LEARNAFRCA (-8.66%) topped the list of twenty-five (25) laggards and the rest of stocks were unchanged.
NASD Summary
The NASD OTC Securities Index (NSI) and market capitalisation advanced by 2.83% w/w. The NSI closed at 3,433.2 points, while market capitalisation settled above ₦2.00 trillion.
Market activity was mixed, as transaction volume declined by 12.61%, while trade value surged by 55.56%.
