The Nigerian bourse closed the week on a positive note, bringing the All-Share index up by 2.87% to close at 94,538.12 points.
The feat was due to sustained buying interests in industrial heavyweights DangCement (+9.98%), and BUACement (+10.00%), alongside MTNN (+0.69%), thereby failing to offset selloffs in GTCO (-3.08%), FBNH (-1.30%) and NB (-4.76%)
Consequently, kept the market remained in the positive terrain.
Having gained in all trading sessions for the week, the ASI closed 13.84% higher w/w.
Over the course of the week, strong performances in DangCement (+53.94% w/w), BUACement (+48.80% w/w) , and Geregu (+17.72% w/w) drove the market’s positive performance, outweighing losses in GTCO (-4.75% w/w), FBNH (-5.00% w/w), and STANBIC (-4.41% w/w).
The year-to-date (YTD) return rose to 26.43%, while the market capitalization gained ₦6.30trn w/w to close at ₦51.74trn.
Further analysis of the day’s market activities showed trade turnover settling lower relative to the previous session, with the value of transactions down by 32.67%.
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A total of 759.14m shares valued at ₦12.99bn were exchanged in 14,988 deals. Transcoorp (-2.86%) led the volume chart with 80.32m units traded while Zenithbank (+1.58%) led the value chart with deals worth ₦1.55bn.
Market breadth closed negative at a 1.06-to-1 ratio with declining issues outnumbering the advancing ones. LASACO(-9.85%) topped thirty-four (34) others on the laggard’s table while BUACement (+10.00%) led thirty-two (32) others on the leader’s log.