Economy & Market

All-Share Index Posts Weekly Gains

Closing the week, the Lagos bourse sustained the winning streak from last week, bringing the All-Share index up by 0.99% to close at 105,085.25 points. Buy interests in MTNN (+7.98%), GTCO (+9.99%), and ZENITHBANK (+3.12%) offset selloffs in TRANSCOHOT (-3.07%), UBA (-2.41%) and ACCESSCORP (-1.50%) keeping the market in the green. Having gained in trading sessions this week, the ASI closed 3.71% higher w/w.

Over the course of the week, strong performances in MTNN (+20.96% w/w), TRANSPOWER (+8.17% w/w), and GTCO (+17.88% w/w) drove the market’s positive performance, outweighing losses in TRANSCOHOT (-3.07% w/w), TRANSCORP (-8.82% w/w), and OANDO (-4.17% w/w). Consequently, the year-to-date (YTD) return rose to 40.54%, while the market capitalization gained ₦2.12trn w/w to close at ₦59.42trn.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 32.43%. A total of 217.21m shares valued at ₦5.01bn were exchanged in 6,457 deals. FBNH (+5.71%) led both the volume and value chart with 29.58m units traded in deals worth ₦1.06bn.

Market breadth closed positive at a 1.39-to-1 ratio with advancing issues outnumbering the declining ones. GTCO (+9.99%) topped twenty-four (24) others on the leader’s table while INTENEGINS (-9.63%) seventeen (17) others on the laggard’s log.

Coronation Research

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