Investors gain N271bn as stock market ends the week on positive posture
By Philemon Adedeji
Despite inflationary pressure, Nigerian equities ended the week on a positive posture, as the All-Share index (ASI) closed by 494.61 absolute points or 1.04 per cent higher to close at 48,154.65 points from 47,656.64 points it closed for previous trading.
Gains in telco heavyweights, AIRTEL AFRICA (+2.62 per cent) and MTNN (+2.33 per cent) pushed the broader index into the positive terrain. Having gained in two (2) of five (5) trading sessions this week, the ASI closed 1.26 per cent higher w/w, its third consecutive weekly growth.
During the week, strong performances across AIRTEL AFRICA(+2.62 per cent w/w), MTNN (+4.76 per cent w/w) and ZENITH BANK (+3.88 per cent w/w) were sufficient to offset the selloffs in BUACEMENT (-2.53 per cent w/w) and STANBIC IBTC (-0.33 per cent w/w).
As a result, the year-to-date (YTD) return grew to 12.73 per cent, while the market capitalisation gained N271 billion w/w to close at N26.223 trillion to close from N25.957trillion it closed trade on Thursday.
Analysis of Friday market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 77.45 per cent.
The total trade volume increased by 49.3 per cent to close at 159,833,144 million shares valued at N5.05 billion and exchanged in 3,080 deals. First Bank Holding of Nigeria led the volume chart with 47.95 million units traded while MTNN led the value chart in deals worth N3.19 billion.
Market breadth closed positive at a 1.36-to-1 ratio with advancing issues outnumbering declining ones. WEMA BANK led eighteen others on the leaders’ table while ACADEMY PRESS topped thirteen others on the laggards’ log.
Thomaswy came as the highest price gainer at the close of trade on Friday appreciated 10 per cent to close at N0.44 per share Followed by Wema Bank which grew significantly by 9.94 per cent to close at N3.43 per share while Ardova oil which recorded as the last third gainer went up by 9.71 per cent to close at N13.90 per share.
PZ Cussons rose by 9.55 per cent to close at N10.90 per share.
Neimeth Pharmaceutical Industry which recorded as the last fifth gainer grew by 9.45 per cent to close at N1.27 per share.
However, Academy press led the losers chart by 9.35 per cent to close at N1.26 per share, Japaulgold which followed lost 6.90 per cent to close at N0.27 per share while Nascon which recorded as the last third loser dipped by 6.54 per cent to close at N10 per share.
Geregu power dropped by 5.68 per cent to close at N122.80 per share.
Cornest which recorded as the last fifth loser diminished by 4 per cent to close at N0.48 per share.
Transaction in the share of First Bank Holding of Nigeria topped the activities chart with 47.952 million shares valued at N536.961 million, Followed by MTNN which transacted 14.513 million shares worth N3.185 billion, While First City Monument Bank traded 13.367 million shares valued at N43.483 million.
UACN transacted 11.541 million shares valued at N121.158 million.
Transcorp plc accounted 8.596 million shares worth N10.065 million.
