The Nigerian stock market began the week on a good note as the All-Share index increased by 2.22 percent, or 2569.79, to end at 104,674.67 points, with the year to date at almost 40%. The Nigerian Exchange (NGX) had a weekly gain of almost N4.3 trillion, while MarketForces Africa reported that the benchmark index ended at 102,104.88 on Friday.
In particular, the market capitalization increased by N1.24 trillion to close at N57.282 trillion as opposed to the previous posting of N56.038 trillion. The year-to-date (YTD) return increased to 39.99 percent as a consequence. The market remained optimistic due to the sustained interest in industry giants including International Breweries, BUA Cement, and Dangote Cement.
Meanwhile, investors exchanged 689.93 million shares valued at N25.94 billion in 15,887 deals. However, market breadth closed negative with 37 declining stocks as against 21 advancing ones. Oando Plc led the gainers table by 9.96 per cent to close at N13.80 per share. Dangote Cement followed with 9.93 per cent to close at N763 per share.
Tripple Gee & Company Ltd. rose by 9.86 per cent to close at N3.11, while Berger Paints Nigeria Plc garnered 9.81 per cent to close at N17.53 per share. Also, Royal Exchange Plc gained 8.97 per cent to close at 85k per share. On the losers’ table, Daar Communications and Ikeja Hotels led in percentage terms of 10 each, to close at 81k and N6.75 per share respectively.
Cadbury trailed by 9.80 per cent to close at N20.70 while Nigerian Police Force Microfinance Bank lost 8.88 per cent to close at N1.95 per share. Ellah Lakes Plc also shed 8.84 per cent to close at N3.02 per cent per share. On the volume chart, Japaul Gold Group led with 83.86 million shares valued at N269.57 million.
Transcorp Hotel followed with 42.80 million shares worth N690.44 million. Zenith Bank sold 34.54 million shares worth N1.46 billion, while Access Corporation traded 34.11 million shares valued at N967.68 million. Selloffs Provoke Spike in Nigerian Treasury Bills Yield
Guaranty Trust Company Holdings (GTCO) transacted 33.34 million shares worth N1.5 billion. Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 193.06 per cent.
