Business activities at the Stock Exchange saw a total turn of 3.789 Billion Shares worth N27, 500 billion Naira trade in 20,333 Transactions, consolidating gains in the previous week which saw the sum of 756.769 Million Shares valued at N13.653 Billion Naira traded the previous week in 18,248 transactions.
The All-Share Index advanced by 2.9% w/w to close at 54,202.58 points. Notably, buying interests in MTNN (+5.7%), GEREGU (+36.9%), and SEPLAT (+11.8%) drove the weekly gain, and partly propelled the market to MTD and YTD returns of +1.8% and +5.8%, respectively.
Market Capitalization appreciated by 0.12% to close the week N28.681 trillion. Activity levels mirrored the overall market gauge, as trading volume and value surged by 399.8% w/w and 101.0% w/w, respectively. Sectoral performance was broadly positive, as the Oil and Gas (+9.2%) index recorded the most significant gain, followed by the Banking (+2.5%), Insurance (+0.3%), and Industrial Goods (+0.1%) indices. On the flip side, the Consumer Goods (-0.4%) index was the sole loser for the week.
Sectoral performance was positive as the Oil and Gas index recorded the most significant gain (+9.2%), followed by the Banking sector BANKING (+2.5%), Insurance (+0.3%),and industrial goods (+0.1%) .
On the flip side, the Consumer goods index was the sole looser for the week closing at -0.4%.
Analysts at Cordross Asset Management Limited advise investors to seek trading opportunities in only fundamentally justifiable stocks as the weak Macro story remains a significant headwind for corporate earnings.
TOP GAINERS
