The market extended its winning streak for the sixth straight week, supported by positive investor sentiment. The NGX All-Share Index (ASI) gained 1.35% to close at 148,977.64 points, while market capitalization rose 1.36% to ₦94.56 trillion, bringing the MTD return to 4.39% and the YTD return to 44.74%. During the week, the ASEM Board of the NGX was officially closed, Juli Plc migrated to the Growth Board, and trading in Smart Products Nigeria Plc was suspended ahead of its planned delisting for non-compliance with listing requirements.
Market performance was positive as four out of five major sectors ended the week in the Green. Fifty-two equities appreciated this week, led by heavyweights like SOVRENINS (+11.21%), TRANSPOWER (+8.92%), SFSREIT (+9.88%), STANBIC IBTC (+8.26%), DANGCEM (+4.35%), WAPCO (+4.27%), and BUAFOODS (+3.22%), while forty-one equities depreciated, led by UACN (-8.53%), NB (-2.56%), UCAP (-5.61%), WEMABANK (-4.76%), and OANDO (-2.11%).
A total turnover of 2.42 billion shares worth ₦76.62 billion in 126,591 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.29 billion shares valued at ₦90.28 billion that exchanged hands last week in 138,177 deals. The Financial Services Industry (measured by volume) led the activity chart with 1.66 billion shares valued at ₦32.57 billion traded in 56,253 deals; thus contributing 68.65% and 42.50% to the total equity turnover volume and value respectively. The ICT Industry followed with 184.884 million shares worth ₦8.66 billion in 11,500 deals. Third place was the Services Industry, with a turnover of 154.54 million shares worth ₦1.07 billion in 5,975 deals.
Trading in the top three equities, namely CONSOLIDATED HALLMARK HOLDINGS PLC, FIDELITY BANK PLC and ACCESS HOLDINGS PLC (measured by volume), accounted for 618.55 million shares worth ₦9.22 billion in 9,277 deals, contributing 25.54% and 12.03% to the total equity turnover volume and value respectively.
Overall, fifty-two (52) equities appreciated in price during the week, higher than fifty-one (51) equities in the previous week. Forty-one (41) equities depreciated in price, same as forty- one (41) equities in the previous week, while fifty-three (53) equities remained unchanged, lower than fifty-five (55) recorded in the previous week.
