Recovering from the previous weekly losses, the Lagos bourse gained 0.87% week-on-week as gains in telco giant, MTNN (5.16% w/w) as well as ZENITHBANK (+7.92% w/w) and FBNH (+9.76 w/w%) outweighed selling pressure in blue chip BUACEMENT (-9.99% w/w), TRANSCOHOT (-0.03% w/w) and NESTLE (-1.81% w/w). Consequently, the year-to-date (YTD) return rose 113bps w/w and the market capitalisation gained ₦480.83bn w/w to close at ₦55.98trn.
In today’s trading session, the All-Share index gained 48bps to settle at 98,592.12 points. Selloff in GTCO (-0.22%) and PRESCO (-5.17%) were encumbered by demand in MTNN (+0.91%), ZENITHBANK (+2.24%) and FBNH (+0.67%), driving the positive performance. Accordingly, the market capitalization gained ₦270.21m today.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 46.00%. A total of 477.44m shares valued at ₦8.17bn were exchanged in 9,529 deals. VERISTASKAP (+4.42%) led the volume chart with 103.24m units traded while OANDO (+9.88%) led the value chart in deals worth ₦2.13bn.
Market breadth closed positive at a 2-to-1 ratio with advancing issues outnumbering declining ones. JBERGER (+10.00%) topped thirty-five (35) others on the gainer’s log while UNIONDICON (-9.88%) led seventeen (17) others on the laggard’s table.
Almost a perfect week across the sectors, the NGX Banking Index (+5.14%w/w) led the leaders log, followed by the NGX Pension Index (+3.48%w/w), the NGX Consumer Goods Index (+2.35%w/w), the NGX Insurance Index (+1.79% w/w), the NGX Oil and Gas Index (+0.97%w/w) and the NGX 30 Index (+0.81%w/w). Contrarily, the NGX Industrial Index (-3.67%w/w) closed in the red, primarily driven by selloff in BUACEMENT (-9.99% w/w).
Coronation
