Stock Market

Stock Market Index Ends Week Strong

Closing the holiday shortened week, the domestic bourse ended the session positive –the first weekly gain since March- as the All-Share index gained 1.46% to close at 99,587.25 points. During the week, gains in MTNN (+6.44% w/w), ZENITHBANK (+6.13% w/w) and GTCO (+7.32% w/w) offset losses in SEPLAT (-2.33% w/w), DANGSUGAR (-2.08% w/w) and NB (-4.48% w/w). As a result, the year-to-date (YTD) return rose to 33.18%, while the market capitalization gained ₦811.48bn w/w to close at ₦56.32tn.

In today’s trading session, renewed interest in telco heavyweight, MTNN (+2.38%) alongside blue-chip ZENITHBANK (+5.65%) and GTCO (+8.86%) outweighed selloff in TRANSCORP (-3.42%), ACCESSCORP (-0.57%) and ETI (-7.50%) leading to the market’s strong performance.

Analysis of today’s market activities by Coronation showed trade turnover settled higher relative to the previous session, with the value of transactions up by 28.14%. A total of 446.57m shares valued at ₦7.10bn were exchanged in 9,297 deals. ACCESSCORP (-0.57%) led the volume and value chart with 151.80m units traded in deals worth ₦2.68bn.

Market breadth closed positive at a 1.53-to-1 ratio with advancing issues outnumbering the declining ones. DANGSUGAR (+9.94%) topped twenty-eight (28) others on the leader’s table while CONOIL (-10.00%) led nineteen (19) others on the laggard’s log.

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