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Weekly Market News for Investors in Nigeria

The NGX ASI closed the week in green, Up by 1.07% WoW.

The NGX ASI closed the week in green by 1.07% as it closed positive in 2 of the 3 trading sessions during the week. It improved on the back of buy pressures in bellwether stocks such as NESTLE (+10.00%) and NEM (+85.95%). Consequently, at 42,716.44points, the equities market’s Year-to-Date return improved to 6.07% as market capitalisation increased by 1.09% to close at N22.30rillion.

Market breadth (a measure of investor sentiment) strengthened in the previous week, increasing from 1.32x to 1.76x as 37 stocks appreciated against 21 stocks that declined. NEM and REGENCY topped the market gainers with 85.95% and 18.60% WoW respectively, while MAYBAKER and BUACEMENT were the top losers with declines of 10.86% and 10.00% respectively WoW.

The activity level strengthened as the trade volume and value improved by 3.15% and 6.05% respectively WoW. A total turnover of 995.061 million shares worth N13.209 billion in 10,264 deals were traded during the week by investors on the floor of the Exchange. Trading in the top three equities by volume were JAIZBANK, FBNH and ZENITHBANK. They accounted for 348.887 million shares worth N3.42 billion in 1,552 deals; contributing 35.05% and 25.88% to the total equity turnover volume and value respectively.

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