NGX Index ends the week perfect, up 6.88% w/w
By Philemon Adedeji
At the close of the week on Friday, Nigerian equities market closed the session higher, bringing the All-Share index up by 1,321.97 basis points or 2.08 per cent to close at 47,554.34 points from 46,232.37 points it closed trade on Friday. Telco heavyweights, Airtel Africa (+7.41 per cent) and MTNN (+5.00 per cent) were the primary drivers of the market’s strong close.
Notably, having gained in all five trading sessions this week, the ASI closed 6.88 per cent higher w/w.
Over the course of the week, strong bullish sentiment in index heavyweights, Airtel Africa (+14.17 w/w), Dangote Cement (+9.98 per cent w/w) and MTNN (+6.60 per cent w/w) offset losses in Nestle Nigeria (-20.67 per cent w/w), Seplat Energy (-3.57 per cent w/w) and Presco (-8.71 per cent w/w). As a result, the year-to-date (YTD) return rose to 11.33 per cent, while the market capitalisation gained N1.67 trillion w/w to close at N25.90 trillion.
Analysis of Friday market activities revealed trade turnover settled higher relative to the previous session, with the value of transactions up by 154.41 per cent.
A total of 98.98 million shares worth N5.52 billion were exchanged in 2,780 deals. First City Monument Bank (FCMB), led the volume chart with 16.84 million units traded while MTNN (+5.00 per cent) led the value chart in deals worth N3.30 billion.
Market breadth closed positive at a 2.29-to-1 ratio with advancing issues outnumbering declining ones. Regalins Insurance led 15 others on the leaders table, while Nestle Nigeria led 6 others on the losers chart.
The breakdown of transaction showed that Redstarex emerged as the highest price gainer at the close of trade on Friday which rose from N2.07 to N2.27, up 20kobo or 9.66 per cent, Regalins Insurance which followed grew significantly from N0.23 to N0.25, increased by 0.02 Kobo or 8.70 per cent, while Livestock moved from N0.98 to N1.06, up 8kobo or 8.16 per cent.
Prestige Assurance appreciated by N0.40 to N0.43, up 3 Kobo or 7.50 per cent.
However, Capital Hotel and Nestle Nigeria led the laggards table with 10 per cent each closing at N3.40 and N10.71 per share respectively, while International Breweries which recorded as the last third loser lost 2.27 per cent closing at N4.40 per share.
Guaranty Trust Holding Company went down by 1.48 per cent to close at N20.30 per share.
Wema Bank which recorded as the last fifth loser depreciated by 0.97 per cent to close at N3.10 per share.
Transaction in the share of First City Monument Bank topped the activities chart with 16.842 million shares worth N54.755 million, MTNN followed by 16.416 million shares valued at N3.296 billion, while Fidelity Bank transacted 7.539 million shares valued at N30.895 million.
Zenith Bank transacted 6.393 million shares worth N139.377 million
Accesscorp plc traded 6.811 million shares valued at N49.735 million.
