NGX All-Share Index Ends The Week Negative, Down 0.48% w/w

In the last trading session of the week, the NGX All-Share Index settled 0.10% higher at 52,214.62 points.

Renewed interests in Tier 1 banking names ZENITHBANK (+0.42%), GTCO (+1.04%) and STANBIC (+0.27%) pushed the broader index into the positive terrain.

Nonetheless, having lost in two (2) of five (5) trading sessions this week, the ASI closed 0.48% lower w/w.

Selloffs in BUACEMENT (-8.02% w/w), ZENITHBANK (-0.21% w/w) and ACCESSCORP (-12.00 w/w) were the major drags on the overall market, negating upticks in BUAFOODS (+2.63% w/w), MTNN (+0.04% w/w) and STANBIC (+1.62% w/w).

Consequently, the year-to-date (YTD) return fell to 1.88%, while the market capitalization shed ₦137.02bn w/w to close at ₦28.43trn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 109.53%.

A total of 1.42bn shares valued at ₦10.98bn were exchanged in 5,527 deals. FIDELITYBK (+1.20%) led volume and value charts with 942.77m units traded in deals worth ₦5.52bn.

Market breadth closed positive at a 2.60-to-1 ratio with advancing issues outnumbering declining ones. ACADEMY (+9.87%) led twenty-five (25) others on the leader’s log while, COURTVILLE (-6.52%) topped nine (9) others on the laggard’s table.

@Coronation Research