Toyin Samuel
The Nigerian stock market extended its bullish momentum on Friday as the NGX recorded yet another week of gain, driven by renewed investors’ interest in MEYER, RTBRISCOE and other stocks on the gainers’ chart with long history of steady growth.
The Market Capitalisation rose to N76.339 trillion from N75.962 trillion the previous week, gaining N377 billion.
The All-Share Index appreciated by 0.83% to close at 120,989.66 points from the previous week close of 119,995.76 points.
This performance marks a year-to-date return of 17.5%.
The positive market sentiment reflected in the performance of major sectoral indices. NGX Growth Index led the pack, rising by 8.04%, followed by the NGX Insurance Index, which climbed by 5.86%. The NGX Banking Index appreciated by 0.12%, the NGX Pension Index rose by 1.10%, and the Oil and Gas Index advanced by 1.07%.
A total of 5.4 billion units of shares valued at N106 billion were exchanged in 117,065 deals. This represents 38.51% growth in volume, 3.88% increase in value compared to the previous week. The number of deals also improved by 2.25%.
The market breadth closed positive as 78 stocks gained against 20 stocks that declined in their share prices
TOP 10 GAINERS
MEYER led other gainers in the course of last week with 60.11% growth, closing at N14.65 from the previous close of N9.15.
RT BRISCOE, FTN COCOA, International Energy Insurance and UPDC grew their share prices by 50.83%, 40.24%, 35.43% and 34.66% respectively.
Other top 10 gainers include: Mutual Benefits 3.33%, NEIMETH 33.00%, CAVERTON 32.18%, Champion Breweries 32.00% and OMATEK 28.17% respectively.
TOP 10 LOSERS
PZ led other price decliners, shedding 14.96% of its share price to close at N32.40 from the previous close of N38.10.
Julius Berger, SCOA, VFDGROUP and HMCALL shed their share prices by 9.97%, 9.83%, 5.41% and 4.76% respectively.
Other price decliners include: Stanbic IBTC (3.45%), MULTIVERSE (3.43%), Dangote Cement (3.41%), Linkage Assurance (3.23%) and Jaiz Bank (3.08%) respectively.