Stock Market

Stock Market Closes Week Positive

The Lagos bourse closed the week positive as the All-Share index gained 32bps to close at 100,057.49 points. Over the course of the week sell pressure in market heavyweight, AIRTELAFRI (-2.47% w/w) and MTNN (-6.89% w/w) were encumbered by interest in SEPLAT (+10.00% w/w) and TRANSCOHOT (+9.33% w/w). Accordingly, having gained in three (3) of five (5) trading sessions this week, the ASI year-to-date (YTD) return rose to 33.81%, while the market capitalization gained ₦178.05b w/w to close at ₦56.60tn.

In today’s trading session, the NGX All-Share Index gained by 67bps to 100,057.49 points. Gains in MTNN (+7.00%), FBNH (+2.82%) and UBA (+0.22%) were the primary drivers of the positive performance. As a result, the market capitalization rose by ₦374.07b.

With regards to market analysis, turnover settled lower relative to the previous session with the value of transactions moderating by 5.80%. A total of 509.71m shares valued at ₦9.88bn were exchanged in 7,945 deals. TRANSCORP (+4.00%) led the volume chart with 125.40m units traded, while GUINNESS (-4.29%) led the value chart in deals worth ₦2.88b.

Predictably, market breadth closed positive at a 3.4-to-1 ratio with advancing issues outnumbering the declining ones. UCAP (+9.96%) topped thirty-three (33) others on the gainer’s table while JAIZBANK (-9.72%) led nine (9) others on the laggard’s log.

On sectors breakdown, the NGX Oil and Gas Index (+5.71%) led the gainers. Followed by the NGX Insurance Index (+3.33%), the NGX Pension Index (+1.99%), the NGX Banking Index (+1.14%) and the NGX 30 Index (+0.42%). On the flip side, the NGX Consumer Goods Index (-0.56%) and the NGX Industrial Goods Index (-0.33%) closed negative.

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