Market returns 2.95% WtD as heavy weight stocks rally

The Nigerian stock market last week closed on a positive note, occasioned by growth in the share prices of Airtel Africa and MTN by 11.76% and 8.77% respectively.

The All Share Index and Market Capitalisation appreciated by 2.95% to close at 43,253.points and N22.572 trillion respectively.

Year to date the All Share Index and the Market Capitalization has appreciated by 7.41% and 7.19% respectively.

In the course of last week, an aggregate of 1.47 billion units of shares were traded in 20,410 deals, valued at N20.94 billion.

The Market Breadth closed negative as 27 equities emerged as gainers against 37 equities that declined in their share prices.

Top 10 Gainers

Neimeth led other gainers with 12.50% growth, closing at N1.98 from the previous close of N1.76.

Red Star Express, Airtel Africa, FTN Cocoa and Veritas Kapital grew their share prices by 12.18%, 11.76%, 10% and 9.52% respectively.

Other top 10 gainers include: Unilever (9.36%), MTN (8.77%), FBNH (8.11%), Unity Bank (7.27%) and Courteville (5.13%) respectively.

Top 10 Losers

Conoil led other price decliners as it sheds 14.90% of its share price to close at N21.7 from the previous close of N25.5.

Pharmadeko, CWG, Berger Paint and Custodian Investment shed their share prices by 9.83%, 9.73%, 9.52% and 9.47% respectively.

Others among top 10 decliners last week include: Multiverse (-9.09%), Regency Assurance (-9.09%), Prestige Assurance (-8.51%), ETranzact (-7.32%) and Cornerstone Insurance (-7.14%) respectively.



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