The positive performance persisted in the equities market as the All-Share index advanced 5.4% w/w to 38,800.01 points on the back of gains in DANGCEM (+22.5%), MANSARD (+25.0%) and OANDO (+27.3%). Consequently, investors gained ₦1.0tn as market capitalisation advanced to ₦20.3tn while YTD return rose to 44.5%. Activity level improved as average volume and value traded spiked 238.6% and 82.2% to 389.7m units and ₦8.0bn respectively. The most traded stocks by volume were ZENITH (198.9m units), MANSARD (158.3m units) and FLOURMILL (129.8m units) while DANGCEM (₦6.4bn), ZENITH (₦4.9bn) and GUARANTY (₦3.9bn) led the value chart.
Performance remained bullish across sectors as 5 of 6 indices that we track closed in the green, save the Banking index which lost 1.0% w/w due to losses in GUARANTY (-2.8%) and ZENITH (-1.0%). The Industrial Goods and Insurance indices recorded the most gains, advancing 12.1% and 6.0% w/w respectively, supported by gains in DANGCEM (+22.5%) and MANSARD (+25.0%). Similarly, the AFR-ICT and Oil & Gas indices closed 5.8% and 1.4% higher w/w respectively, underpinned by buying interest in AIRTELAF (+10.0%), MTNN (+3.2%) and OANDO (+27.3%). Lastly, the Consumer Goods index gained a marginal 0.3% w/w, buoyed by price appreciation in HONYFLOUR (+11.8%) and FLOURMILL (+7.5%).
Investor sentiment as measured by market breadth (advance/decline ratio) improved to 3.8x from 3.4x last week as 46 tickers climbed against 12 decliners. FTNCOCOA (+56.1%), OANDO (+27.3%) and CUTIX (+25.0%) led the top gainers while CILEASING (-9.8%), TRANSEXP (-9.2%) and JOHNHOLT (-8.9%) led the decliners. We are optimistic about a sustained positive run in the upcoming trading week.
