Analysis of the market performance today reflects a 1.00% gain in the NGX ASI and the market capitalisation, driven by buying interest in DANGCEM (+4.58%), BUACEMENT (+9.98%), and GTCO (+2.15%), offsetting declines in FIRSTHOLDCO (-4.10%), TRANSCORP (-1.57%) and ZENITHBANK (-4.00%).
Market activity was mixed compared to the previous session, with transaction volume increasing by 180.57% while value of transactions declined by 99.92%. FCMB (-2.04%) led the volume chart with 1.31bn units, while FIDELITYBK (-1.18%) led the value chart with N23.04bn worth of trades.
Market breadth closed positive at 1.84x, indicating market gainers outnumber losers. LEARNAFRCA (+10.0%) led the forty-six (46) gainers, while REDSTAREX (-9.97%) topped the list of twenty-five (25) laggards and the rest of stocks were unchanged.
NGX Summary
The Nigerian equities market sustained its bullish momentum for the third consecutive week this month, with the NGX All Share Index (ASI) advancing by 4.31% w/w, closing the week above 130,000 points.
This increased the year-to-date ASI return to 27.84% from 22.56% recorded in the previous week. Likewise, the market capitalisation appreciated by N3.44trn w/w (or 4.31% w/w), closing the week at N83.24trn.
The bullish momentum was spurred by persistent demand in industrial goods giant, DANGCEM (+16.47% w/w), BUACEMENT (+31.28% w/w) and WAPCO (+7.55% w/w).
These gains were supported with buying interest across all tier-one banking stocks, including, FIRSTHOLDCO (+16.47% w/w), ACCESSCORP (+8.27% w/w), UBA (+5.74% w/w), ZENITHBANK (+3.30% w/w), and GTCO (+1.01% w/w). Broadly speaking, these gains outweighed sell-offs recorded in OANDO (-2.32% w/w), FIDELITYBK (-1.65% w/w), and INTBREW (-6.73% w/w).
NASD Summary
The NASD OTC Securities Index (NSI) and market capitalisation advanced by 4.49% w/w. The NSI closed at 3,488.7 points, while market capitalisation maintained its N2trn level.
Market activity was improved across volume and value of transactions increasing by 49,785% and 88.40% respectively.
Coronation
