Lagos, Feb. 16, 2024 (NAN) The equity market of the Nigerian Exchange Ltd. (NGX) ended the week on a positive note, with a gain of N2.11 trillion week-on-week.
Specifically, the market capitalization gained N2.11 trillion week-on-week and on Friday closed at N57.849 trillion with a gain of N888 billion, or 1.56 percent, as against N56.961 trillion recorded on Thursday.
Similarly, the All-Share Index closed 3.79 percent week-on-week higher, having gained in four of five trading sessions of the week.
Also, the All-Share Index on Friday rose by 1.56 percent, or 1,623 points, to close at 105,722.78 points, compared to 104,100 posted in the previous session.
Consequently, the year-to-Date (YTD) return rose to 41.39 percent.
Buy interests in BUAFOODS, Zenith Bank, Airtel, and Geregu and offset selloffs in Guaranty Trust Holding Company (GTCO), Access Corporation, and BUA Cement to drive the market’s positive performance.
Meanwhile, an analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 16.43 percent.
A total of 342.52 million shares valued at N8.05 billion were exchanged in 8,395 deals, compared to 284.49 million shares valued at N6.91 billion exchanged in 8,168 deals posted previously.
First Bank of Nigeria Holdings (FBNH) led the activity log in both volume and value, with 49.92 million shares worth N1.40 billion.
The United Bank of Africa (UBA) followed with 36.90 million shares traded at a value of N912.42 million; Unity Bank sold 29.76 million shares worth N757.81 million.
GTCO traded 27.58 million shares valued at N1.10 billion, while Access Corporation sold 19.26 million shares worth N43.40 million.
On the gainers’ log, BUAFOODS and PZ Nigeria led in percentage terms of 10 each to close at N357.50 and N30.25 per share, respectively.
Geregu followed by 9.90 percent to close at N901, Julius Berger garnered 9.88 percent to close at N55.60, and Julius Plc rose by 9.70 percent to close at N1.47 per share.
On the other hand, Livestock Feed Plc and FlourMill Nigeria Plc led the losers’ log in percentage terms of 10 each to close at N1.17 and N35.10, respectively.
Meyer trailed closely by 9.97 percent to close at N5.60; The Initiative Plc (TIP) lost 9.70 percent to close at N2.14; and Sunu Assurances lost 9.18 percent to close at N1.78.
However, market breadth closed negative with 28 equities on the laggard’s log and 23 others on the leader’s log.(NAN)
