Nigerian equities investors ended the week with a cumulative gain of ₦1.33 trillion in market capitalisation which closed at ₦35.39 trillion.
Also, the benchmark All-Share Index closed 1.68 percent stronger to settle at 65,003.39 points.
Substantial buy interest in Tier 1 banks including Zenith Bank (+8.82%), GTCO (+10.00%), and STANBIC (+10.00%) drove the market’s strong performance. Having gained in four (4) of five (5) trading sessions this week, the ASI closed 3.89 percent higher week-on-week.
On a week-on-week basis, cumulative gains by heavyweight stocks of MTNN (+1.85% w/w), Dangote Cement (5.07% w/w), and Zenith Bank (+8.15% w/w) were the major drivers of the broader index positive performance offsetting the significant loss in GUINNESS (-8.75% w/w). As a result, the year-to-date (YTD) return rose to 26.83 percent.
Market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 21.04 percent.
A total of 770.80m shares valued at ₦14.26 billion were exchanged in 8,915 deals. UBA (+9.96%) led the volume chart with 111.21 million units traded while AIRTELAFRI (+0.00%) led the value chart in deals worth ₦2.59 billion.
With a maximum +10 percent daily gain, GTCO led 36 others on the gainer’s table while ACADEMY (-9.88%) topped 12 others on the loser’s table.
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