Market returns 1.12% WtD as MTN, Dangote Cement inch up

The Nigerian stock market last week closed on a positive note occasioned by gains in the share prices of MTN and Dangote Cement by 7.16% and 1.19% respectively.

The All Share Index appreciated by 1.12% week on week to close at 42,353.31 points from the previous close of 41,882.97 points. The Market Capitalisation grew by 1.16% week on week, closing at N22.107 trillion from the previous close of N21.854 trillion. Year to date, the market has returned 5.17%.

In the course of last week, an aggregate of 1.317 billion units of shares were traded in 18,292 deals, valued at N15.33 billion.

The Market Breadth closed positive as 32 equities emerged as gainers against 28 equities that declined in their share prices.

Top 10 Gainers

Meyer Plc led other weekly gainers with 27.27% growth, closing at N0.42 from the previous close of N0.33.

Royal Exchange, FTN Cocoa, Pharmadeko and Custodian Investment grew their share prices by 15%, 13.51%, 10% and 9.86% respectively.

Other top ten gainers include: Red Star Express (7.94%), MTN (7.16%), NGX Group (7.06%), Dangote Sugar (6.58%) and CWG (5.88%) respectively.

Top 10 Losers

Champion Breweries led other weekly price decliners as it shed 13.65% of its share price to close at N2.34 from the previous close of N2.71.

UDPC, ETRANZACT, Cutix and UDPC REIT shed their share prices by 10.17%, 9.57%, 9.43% and 6.82% respectively.

Other top ten losers last week include: Livestock Feeds (-6.40%), Nascon Allied Industries (-5.71%), CAP (-5.70%), Honeywell Flour (-5.56%) and Union Bank (-5.15%) respectively.



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