BY BAMIDELE FAMOOFO
Despite the topsy-turvy performance, Nigerian equities ended the week on a positive note, as the All-Share index closed 1.04 percent stronger to settle at 48,154.65 points, the highest point since 5 October. Gains in telco heavyweights, AIRTELAFRI (+2.62%) and MTNN (+2.33%) pushed the broader index into the positive terrain. Having gained in two (2) of five (5) trading sessions this week, the ASI closed 1.26 percent higher w/w, its third consecutive weekly growth.
During the week, strong performances across AIRTELAFRI (+2.62% w/w), MTNN (+4.76% w/w) and ZENITHBANK (+3.88% w/w) were sufficient to offset the selloffs in BUACEMENT (-2.53% w/w) and STANBIC (-0.33% w/w). As a result, the year-to-date (YTD) return rose to 12.73%, while the market capitalization gained N326.98bn w/w to close at N26.23trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 77.45%%. A total of 159.83m shares valued at N5.05bn were exchanged in 3,080 deals. FBNH (+0.00%) led the volume chart with 47.95m units traded while MTNN (+2.33%) led the value chart in deals worth N3.19bn.
Market breadth closed positive at a 1.36-to-1 ratio with advancing issues outnumbering declining ones. WEMABANK (+9.94%) led eighteen (18) others on the leader’s table while ACADEMY (-9.35%) topped thirteen (13) others on the laggard’s log.
