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Bullish Market, Bulls vs bears market, Market Treads, Nigerian Stocks, Stock Market, Nigerian Stock Market

Investors Gain N328.98bn WoW, NSEASI Inches up by 1.39%, to Close the Week in Green.

The NGX ASI closed the week in green by 1.39% as it closed positive in 4 of the 5 trading sessions during the week as a result of buy pressures in bellwether stocks such as FBNH (+29.59%) and ETI (+9.52). Consequently, at 41,438.15 points, the equities market’s Year-to-Date return improved to 2.90% as market capitalisation increased by 1.50% to close at N21.62 trillion.

Market breadth (a measure of investor sentiment) strengthened last week, rising from 1.62x to 3.00x as 45 stocks appreciated against 15 stocks that declined. CHAMPION and FBNH topped the market gainers with 49.52% and 29.59% WoW respectively, while LEARNAFRCA and IKEJAHOTEL were the top laggers with declines of 18.71% and 7.89% respectively WoW.

The activity level strengthened as the trade volume and value increased by 30.34% and 44.11% respectively WoW. A total turnover of 2.84 million shares worth N31.65 billion in 23,355 deals were traded during the week by investors on the floor of the Exchange. Trading in the top three equities by volume were FBNH, GTCO and ETI. They accounted for 1.834 billion shares worth N23.372 billion in 5,981 deals; contributing 64.61% and 73.84% to the total equity turnover volume and value respectively.

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