NGX Ends Week On Positive Note as Stocks Rally
The Nigerian Exchange (NGX) ends the week on a positive note as stocks rally. At the close of the trading session, the local bourse halts losses as companies release second quarter (Q2) earnings results, with positive impacts on market sentiments.
Consequently, the All-share index (NGX-ASI) gained 0.16 per cent today with the benchmark index closing at 38,547.08 points.
Price appreciation in bellwether stocks such as TRANSCORP, HONEYWELL, OANDO, UBN, FIDELITYBK, UCAP, MTN, PRESCO, ZENITH BANK, FCMB drive today’s rally. However, market breadth closed negative with 22 gainers versus 28 losers.
Despite this, stock market activities edged higher with both the volume and value of stocks traded on the exchange appreciating by 48.92 per cent and 92.53 per cent respectively.
Trading data from NGX shows that a total of 387.13 million units of shares valued at N3.81 billion, were traded in 4,700 deals.
TRANSCORP led the volume chart, accounting for 41.24 per cent of the total volume of trades, followed by ELLAHLAKES (6.88%) OANDO (5.58%) GTCO (4.61%), and COURTVILLE (3.76%) to complete the top five on the volume chart.
MTNN led the value chart accounting for 20.50 per cent of the total value of trade on the exchange.
TRANSCORP, IKEJAHOTEL, NAHCO topped the gainers’ chart, with their share prices advancing by 9.68 per cent, 9.24 per cent, and 6.09 per cent, respectively.
LEARNAFRICA led the losers’ table with its share price depreciating by 10.00 per cent to close at N1.35 after opening the day at N1.50.
Overall, market sentiments turned bearish as profit-taking activities dominated market performance throughout the week.
The local bourse recorded losses in three of the five trading sessions as market capitalisation slide N62.9 billion to N20.1 trillion.
Profit-taking in BUACEMENT (-4.2%), GUARANTY (-3.7%) and ZENITH BANK (-1.2%) drove the weekly loss. The All-Share Index shed -0.3% this week to close at 38,547.08 points.
As a result, the month to date return moderated to +1.7%, while the year to date loss increased to -4.3%.
Activity levels were stronger than the prior week, as trading volume and value rose significantly by 53.8% and 125.8% week on week respectively.
Sectoral performance was broadly negative, following declines in the Industrial Goods (-1.3%), Insurance (-1.1%) and Banking (-0.9%) indices, and gains in the Oil and Gas (+3.8%) and Consumer Goods (+0.1%) indices.
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NGX Ends Week On Positive Note as Stocks Rally
