Equities Investors Gain N1.33trn In 1 Week

Nigerian equities investors ended the week with a cumulative gain of N1.33 trillion in market capitalisation which closed at N35.39 trillion.

Also, the benchmark All-Share Index closed 1.68 per cent stronger to settle at 65,003.39 points.

Substantial buy interest in Tier 1 banks including Zenith Bank (+8.82 per cent), GTCO (+10.00 per cent ), and STANBIC (+10.00 per cent) drove the market’s strong performance. Having gained in four of five  trading sessions this week, the ASI closed 3.89 per cent higher week-on-week.

On a week-on-week basis, cumulative gains by heavyweight stocks of MTNN (+1.85 per cent w/w), Dangote Cement (5.07 per cent w/w), and Zenith Bank (+8.15 per cent w/w) were the major drivers of the broader index positive performance offsetting the significant loss in Guinness (-8.75 per cent w/w). As a result, the year-to-date (YTD) return rose to 26.83 per cent.

Market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 21.04 per cent.

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A total of 770.80m shares valued at N14.26 billion were exchanged in 8,915 deals. UBA (+9.96 per cent) led the volume chart with 111.21 million units traded while AIRTELAFRI (+0.00 per cent) led the value chart in deals worth N2.59 billion.

With a maximum +10 per cent daily gain, GTCO led 36 others on the gainer’s table while ACADEMY (-9.88 per cent ) topped 12 others on the loser’s table.