The equity market last week closed positive, gaining for five consecutive days in the week. This is a positive signal that the market’s expectations of the Q1 2021 earnings reports are being met.
The market closed the week on a positive note as the All Share Index appreciated by 1.27% to close the week at 39,301.82 points from 38,808.01 points the previous week. The market capitalisation grew by 1.27% week to date to settle at N20.568 trillion from N20.310 trillion, which translates to N258 billion weekly gain. Year to date the market has returned -2.41%.
An aggregate of 1.602 billion units of shares were traded in 19,507 deals, valued at N42.142 billion last week.
The market breadth closed on a positive week on week, as 39 equities emerge on the gainers list while 24 equities declined in their share prices.
GAINERS
PZ led other gainers with 21.11% growth week on week, closing at N5.45 from N4.5.
This is followed by University Press, Honeywell Flour and Mutual Benefit Assurance as they grew their share prices by 19.63%, 17.65% and 14.71% respectively among others.
LOSERS
FTN Cocoa led other price decliners as it shed 22% of its share price week on week to close at 39 kobo from 50 kobo.
Portland Paints, EKOCORP and Guinness among others also shed their share prices by 18.09%, 10% and 9.89% respectively.
