The Nigerian equities market extended its positive momentum amid mixed sentiments, as the Nigerian Exchange Limited, NGX All Share Index, ASI touched new high of 114,595.72 points last trading day.
The ASI closed higher in all four trading sessions and kicking off the month of June on a strong note from 111.742.01 points posted the previous week.
Investors continued repositioning their portfolios ahead of the earnings reporting season, while others took profit following the long holidays to mark the Muslim festival of Id el Kabir in the midst of the benchmark NGX ASI making a new historic all-time high in divergence with money flow index looking down.
Specifically, the uptrend in the Index was buoyed by buying interests in Oando, which went up by 25.77%, LASACO 21.62%, MTN Nigeria 13.96% , Dangote Cement 2.27%
As a result, the Year-to-Date, YtD returns settled higher at 11.36%. Meanwhile, trading volume and value declined by 15.3% and 36.1% Week on Week, respectively.
Meanwhile, investors gained over N1.812 trillion from their investment in the NGX, as market capitalisation, which represents the total value of listed shares on the Exchange closed at N72.275 trillion last week from N70.463 trillion the previous week.
On sectoral performance last week, it was broadly positive, as the Banking Index went up by 4.7%, Insurance Index 3.4%, Oil & Gas Index 3.3%, Consumer Goods Index 2.3% and Industrial Goods Index 1.2%.