Toyin Samuel
The Nigerian stock market bounced back strongly last week, halting five straight sessions of losses as investor appetite returned to the market, particularly in fundamental sound stocks. The renewed strength was led by a decisive surge in Dangote Cement, a stock whose dominance in the industrial goods space makes it a bellwether of broad market direction. The positive influence from this move was evident across most sectors, from consumer goods to insurance, suggesting the presence of both institutional repositioning and retail bargain-hunting ahead of expected end-of-year portfolio rebalancing.
The All-Share Index rose by 2.45% to close the week at 147,040.07 points from 143,520.53 points recorded in the previous week. Market capitalization grew also by 2.67% to settle at N93.722 trillion from the previous close of N91.286 trillion.
Year-to-date (YTD) market has returned to 42.86% with the All-Share Index and Market Capitalisation growing from 102,926.40 points and N62.763 trillion to 147,040.07 points and N93.722 trillion respectively.
A total turnover of 6.6 billion shares worth N113 billion in 109,680 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 4.1 billion shares valued at N116 billion that exchanged hands the previous week in 102,433 deals.
Fifty-five (55) equities appreciated in price during the week, higher than thirty-eight (38) equities in the previous week. Twenty-nine (29) equities depreciated in price, lower than thirty-six (36) equities in the previous week, while sixty-three (63) equities remained unchanged, lower than seventy-three (73) recorded in the previous week.
Similarly, all other indices finished higher with the exception of NGX Oil and Gas and NGX Commodity Indices which depreciated by 0.57% and 0.30% respectively.
TOP 10 GAINERS
NCR led the gainers’ chart with 33.03% to close at 72.70 from the previous close of N54.65.
UACN, GUINNESS, Dangote Cement and Nigerian Breweries grew their share prices by 22.69%, 18.56%, 15.02% and 12.36% respectively.
Others among top 10 gainers include: Sunu Assurance 10.71%, NGXGROUP 9.96%, MULTIVERSE 9.95%, MORISON 9.94% and SKYAVIATION 9.74% respectively.
TOP 10 LOSERS
RTBRISCOE led other price decliners as it shed 12.79% of its share price to close at N3.00 from the previous close of N3.44.
Legend Internet, UNIONDICON, ABC Transport and Cornerstone Insurance among other price decliners shed their share prices by 10.71%, 10.00%, 9.88% and 8.33% respectively.
Others among top 10 price decliners include: CAP (6.16%), CUTIX (5.66%), Living Trust Insurance (5.59%), CAVERTON (4.85%) and JAPAULGOLD (4.55%) respectively.