The Nigerian equity market closed trading activities for last week positive, as investors’ bullish sentiment was dominant in two out of the five trading sessions. The market positive performance for last week was buoyed by investors’ increased buying interest in some blue-chip stocks such as; MTNN, ZENITHBANK and others, although all the major sectors dipped with the exception of the Banking sector which increased by (+4.40%).Investors’ wealth grew by N285.39 billion last week, as a total of 31 stocks appreciated last week higher than 27 stocks the previous week.
Furthermore, the Market Indicators NGX-ASI advanced by 1.19 % w/w to close for the week at 44,492.73 absolute points compared to 43,968.75 absolute points the previous week. While the Market Capitalization also increased by 1.19% w/w, to close at ₦24.23 trillion as against ₦23.95 trillion the previous week.
The uptrend was influenced by gains recorded in some medium and large capitalized stocks, amongst which are; MANSARD(+15.69%), UBN(+13.04%), GTCO(+10.83%), NB(+10.29%), UNILEVER(+10.00%), CWG(+10.00%), CAVERTON(+10.00%), LEARNAFRCA(+10.00%), MRS(+9.73%), STANBIC(+9.09%), NGXGROUP(+7.67%), FBNH(+7.32%), ZENITHBNK(+7.04%), GEREGU(+6.90%), INTBREW(+6.25%), ETI(+5.26%), CHIPLC(+5.17%), TRANSCORP(+2.78%), MTNN(+2.60%), UBA(+1.41%), NEM(+1.35%), STERLNBANK(+0.71%), ACCESSCORP(+0.62%) and JBERGER(+0.24%).
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