• Friday, February 23, 2024
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Video: Weekly market update

First off, Otedola’s new company, Geregu Power Plc, led top gainers back-to-back on two consecutive trading days. The company was listed on Wednesday, and pumped in 2.5bn to the Nigerian economy. It also made history by becoming the first power company to be listed on the NGX.

In last week’s trading session, the local bourse closed in red declining by 341bps or 3.4% week-to-date (WTD), as sectors under our purview experienced a largely bearish performance printing in red.

WTD performance for indices under our purview indicates the banking index as top loser which contracted by 337bps, followed by the Insurance index which declined by 116bps, the Oil and Gas index which declined by 102bps the Consumer Goods and Industrial Goods indices declined 56bps and 33bps. The local bourse closed at 47,351.43 points as the Year-to-Date (YTD) return of the market gained 10.9% or 1090bps.

Read also: Explainer: What listed Geregu Power means for Nigeria’s power sector

The top gainers for Friday’s trading session were led by FTNCOCOA, INTBREW and SOVRENINS, while MAYBAKER, NASCON and ACADEMY emerged as today’s top losers.

For today’s trading activities, the total volume and total value traded declined by 2.4% and 31.9% respectively to 137.2mn units and ₦1.7bn.

GTCO, OANDO and TRANSCORP led the volume chart with 33.7mn units, 18.4mn units, and 13.5mn units respectively.

On the other hand, GTCO, MTNN and ZENITHBANK led the value chart by ₦573.8mn, ₦334.8mn and ₦144.6mn respectively.