• Friday, April 12, 2024
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Weekly market update

For last week’s trading session, the domestic equity market closed in red declining by 667bps or 6.7% week-to-date (WTD).

Sectors under our purview were more bearish as three indices closed in red and two closed in green WTD.

WTD performance for indices under our purview indicates the Insurance index as the top loser, which declined by 370bps. This was followed by the Oil and Gas index which declined by 150bps, and the Consumer Goods index which declined by 90bps.

On the other hand, the Industrial Goods and Banking indices gained 320bps and 120bps respectively.

Furthermore, the local bourse closed at 44,396.73 points as Month-to-date (MTD) posted red as it declined by 944bps or 9.4%. However, the Year-to-Date (YTD) return of the market gained 3.9% or 393bps.

The top gainers in Friday’s trading session were led by ACADEMY (+9.8%), STERLNBANK (+3.9%) and CHAMS (+3.8%), while NEM (-10.0%), ROYALEX (-9.8%) and MORISON (-9.6%) emerged as Friday’s top losers.

For Friday’s trading activities, the total volume traded and total value traded declined by 20.2% and 41.1% respectively to 95.0mn units and ₦1.9bn.

FIDELITYBK, ZENITHBANK and GTCO led the volume chart with 26.5mn units, 10.7mn units, and 8.2mn units respectively, while AIRTELAFRI, ZENITHBANK and GTCO led the value chart by ₦978.8mn, ₦215.4mn and ₦152.6mn accordingly.