• Tuesday, October 03, 2023
businessday logo


Fifty-two equities gain while 27 lose as market rises by 0.20% in one week

Access, Oando, others cause market’s negative start to new week

In the trading week ended Friday June 9, 52 equities appreciated in price lower than 66 equities in the preceding week.

Twenty-seven equities depreciated in price higher than 23 in the preceding week, while 77 equities remained unchanged, higher than 67 recorded in the preceeding week.

The review trading week recorded only one day of gain as against 4 days of decline.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation appreciated by 0.20percent to close the week at 55,930.97 points and N30.455 trillion respectively.

Read also: Nigeria nears hub status as FG acquires Africa’s largest tugboats for Lekki Port

Similarly, all other indices finished higher with the exception of NGX Premium, NGX AFR Div. Yield, NGX Lotus II, NGX Industrial Goods, NGX Growth and NGX Sovereign Bond which depreciated by 0.75percent, 0.06percent, 0.08percent, 1.31percent, 0.51percent, and 1.50percent respectively while the NGX ASeM index closed flat.

Amid relatively lukewarm sentiment displayed in the review trading week, Lagos-based analysts at Vetiva research said they anticipate another week of mixed trading “as investors maintain their cautious approach, and favour fundamentally sound stocks”.

During the review week, Airtel Africa (+1.79percent), MTNN (+0.04percent) and Stanbic IBTC Holdings (+2.27percent) led the market’s gains.

On the laggards list, Zenith Bank (-2.10percent), Geregu Power (-0.61percent) and GTCO (-1.23percent w/w) contributed majorly to the record losses.

The market’s year-to-date (YtD) return stood at 9.13percent, while its market capitalisation increased N60.11billion.