In today’s session, the market also closed higher, with the NGX ASI and market capitalisation gaining 0.42%, respectively. Although, market activity moderated, with transaction volume and value declining by 0.79% and 3.43%, respectively. UBA (+0.00%) led the volume chart with 59.18mn units traded, while DANGCEM (+0.03%) led the value chart with N2.64bn worth of trades.
Market breadth closed positive at 1.65x, reflecting more gainers than positive. UPDC (+9.92%) led the thirty-eight (38) gainers, while LIVINGTRUST (-10.00%) topped the twenty-three (23) laggards, with other stocks closing flat.
NGX Summary
For the sixth consecutive week, the Lagos bourse continued its bullish momentum, as the NGX All Share Index (ASI) rose by 1.35% w/w to close 148,977.64 points. This propelled the year-to-date (YTD) return to 44.74% from 42.81% recorded in the previous week. The market capitalisation also appreciated by N1.26trn w/w, settling at N94.56trn.
The bullish sentiment was spurred by broad-based demand in heavyweight names such as BUAFOODS (+3.22% w/w), DANGCEM (+4.35% w/w), MTNN (+0.72% w/w), TRANSCORP (+3.69% w/w), which offset selloffs recorded in the select banking stocks including GTCO (-1.79% w/w), ZENITHBANK (-0.44% w/w), UBA (-1.87% w/w), and ACCESSCORP (-1.35% w/w).
Sectoral performance was largely positive, with only the Banking Index (-0.13% w/w) closing the week in the red. However, the Industrial Goods (+2.79% w/w) maintained its leading position among market gainers, followed by Insurance (+2.56% w/w), Consumer Goods (+1.93% w/w), and Oil & Gas (+0.04% w/w) indices.
NASD Summary
The NASD closed the week on a strong positive note, as the NASD OTC Securities Index (NSI) and market capitalisation advanced by 4.90% w/w, to close at 3,620.59 points and N2.17trn, respectively.
Similarly, the market closed higher in today’s session, appreciating by 1.35%. However, market activity declined sharply, with transaction volume and value down by 90.04% and 95.41%, respectively.
SD11PLC (+9.09%) topped the market gainers, while SDFCWAMCO (1.63%) led the laggards’ log.
Coronation
