In the last trading session of the week, the domestic bourse reversed some of the week’s gains by 0.18% to close at 52,657.88 points. Selloffs in telco heavyweight, MTNN (-1.75%) was the main driver of the market’s overall performance. Having gained in two (2) of five (5) trading sessions this week, the ASI closed 0.12% higher w/w, extending gains for the third consecutive week.
Over the course of the week, while DANGCEM (+0.72% w/w), ZENITHBANK (+1.84% w/w) and GTCO (+1.45% w/w) recorded gains, MTNN (-2.13% w/w), WAPCO (-0.20% w/w) and NB (-9.69% w/w) drove the week’s loss. Consequently, the year-to-date (YTD) return rose to 2.74%, while the market capitalization gained ₦34.43bn w/w to close at ₦28.68trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 15.93%. A total of 171.11m shares valued at ₦2.34bn were exchanged in 3,599 deals. FIDELITYBK (+1.31%) led the volume chart with 26.64m units traded while MTNN (-1.75%) led the value chart in deals worth ₦407.50mn.
Market breadth closed positive at a 1.82-to-1 ratio with advancing issues outnumbering declining ones. CAP (+9.83%) topped nineteen (19) others on the gainer’s table, while CUTIX (-8.11%) led ten (10) others on the laggard’s log.
Find below key highlights of market activities
|Market Cap. (₦ ‘trillion)||28.68||-0.18||2.74|
|Value (₦ ‘billion)||2.34||15.93|
Source: Coronation Securities