NGX All-Share Index ends the week in the red, down 0.68% w/w

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By Philemon Adedeji

Trading activities on the Nigerian Exchange Limited (NGX) extended gains at the close of week on Friday for the third consecutive session, the domestic bourse ended positive, as the All- Share Index (ASI) gained six basis points to close at at 43,968.75 points.

Zenith Bank FBNH (+1.99 per cent) and GEREGU (+6.90 per cent) were the primary drivers of the market’s performance. However, despite gaining in four (4) of five (5) trading sessions this week, the ASI closed 0.68 per cent lower w/w, as the market failed to recoup Tuesday’s losses.

Last week, selloffs in Airtel Africa (-0.39 per cent w/w), Dangote cement (-0.62 per cent w/w) and MTNN (-2.04 per cent w/w) kept the market in the red, eroding gains in First Bank Holding of Nigeria (+3.54 per cent), Accesscorp (+1.26 per cent), Geregu power (+8.50 per cent). As a result, the ASI’s year-to-date (YTD) return fell to 2.93 per cent, while the market capitalisation lost N161.54 billion week -on-week w/w to close at N23.95 trillion.

Analysis activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 30.05 per cent.

A total of 209.71 million shares valued at N2.17 billion were exchanged in 2,942 deals. Accesscorp Plc led the volume and value charts with 81.34 million units traded in deals value at N654.72 million.

Market breadth closed positive at a 2.17-to-1 ratio with advancing issues outnumbering declining ones. Cornerst  led twelve 12 others on the gainer’s table, while Flour Mill led five (5) others on the laggard’s log.

At the close of week on Friday, Cornest emerged as the highest price gainer on the leaders table with 10 per cent appreciation increased to close at N0.44 per share followed by Unity Bank which rose significantly by 9.62 per cent to close at N0.57 per share while eTranzact international grew by 9.37 per cent to close at N3.50 per share.

Wapic Insurance which recorded as the last fourth gainer went up by 9.09 per cent to close at N0.36 per share and Regalins Insurance which recorded as the last fifth gainer appreciated by 8.00 per cent to close at N0.27 per share.

However, Flour Mill came as the highest loser at the close of trade on Friday which dipped by 9.90 per cent to close at N27.30 per share, followed by PZ cussion which lost 7.03 per cent to close at N8.60 per share while Ecobank Transnational Incorporation went down by 5 per cent to close at N9.50 per share.

Ikeja Hotel which recorded as the last fourth loser declined by 1.06 per cent to close at N0.93 per share.

Nigerian Aviation Handling Company which recorded as the last fifth loser went down by 0.85 per cent to close at N5.80 per share.

Transaction in the shares of Accesscorp topped the activities chart with 81.344 million shares valued at N654.724 million followed by Transcorp plc which transacted 28.158 million shares valued at N30.330 million while Guaranty Trust Holding Company traded 15.524 million shares worth N273.459 million.

Sovereign Insurance sold 13.045 million shares valued at N3.111 million Nigerian breweries transacted 11.189 million share worth N405.028 million.