Toyin Samuel
The Nigerian stock market closed firmly in the positive territory last week, extending its rally to a three consecutive session, sustained as broad demand for large- and mid-cap stocks continued to support positive sentiment. The market’s resilience reflected growing investors’ confidence, buoyed by bargain hunting and portfolio rebalancing ahead of the new year.
Buying interest was particularly evident in stocks such as ASOSAVING, ALEX, MECURE, FIRSTHOLDCO, GUINNESS and NPFMICROFINANCE BANK among others. This broad participation helped in ensuring the market closed decisively higher.
The All-Share Index appreciated by impressive growth of 1.76% to close at 152,057.38 points while Market capitalization added N1.67 trillion to close the week at N96.937 trillion from the previous close of N95.264 trillion.
This rally has pushed the market year-to-date (YTD) close to 47.73%.
A total turnover of 9.849 billion shares worth N305.843 billion in 126,584 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 4.373 billion shares valued at N97.87 billion that exchanged hands last week in 110,866 deals
Fifty-six (56) equities appreciated in price during the week, higher than forty-nine (49) equities in the previous week. Thirty-six (36) equities depreciated in price, lower than forty-one (41) equities in the previous week, while fifty-five (55) equities remained unchanged, lower than fifty-seven (57) recorded in the previous week.
On sectoral performance, all other indices finished higher with the exception of NGX AFR Bank Value, and NGX Oil and Gas Indices which depreciated by 1.38% and 0.17% respectively.
TOP 10 GAINERS
ASOSAVINGS led the gainers table with 200.00% to close at N3.21 from the previous close of N1.07.
ALEX, MECURE, FIRSTHOLDCO and GUINNESS grew their share prices by 59.35%, 44.93%, 42.93% and 33.01% respectively.
Others among top 10 gainers include: NPF Microfinance Bank 20.65%, Champion Breweries 19.79%, Sunu Assurance 17.96%, TANTALIZER 15.45% and Sovereign Trust Insurance 13.82% respectively.
TOP 10 LOSERS
Living Trust Insurance led other price decliners as it shed 11.38% of its share price to close at N3.35 from the previous close of N3.78.
JAPAULGOLD, International Energy Insurance, FTN Cocoa and STANBIC IBTC among other price decliners shed their share prices by 10.53%, 9.92%, 9.80% and 9.33% respectively.
Others among top 10 price decliners include: Royal Exchange (8.29%), Honeywell Flour (7.55%), ETERNA (5.63%), Redstar Express (5.453%) and OMATEK (5.22%) respectively.