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Weekly Market News for Investors in Nigeria

The NGX ASI Closed The Week in Green by 1.12%, as MTNN and DANGSUGAR Improved During the Week.

The NGX ASI closed the week in green by 1.12% as it closed positive in 3 of the 5 trading sessions during the week. It improved on the back of buy pressures in bellwether stocks such as MTNN (+7.16%) and DANGSUGAR (+6.58%). Consequently, at 42,353.31 points, the equities market’s Year-to-Date return improved to 5.17% as market capitalisation increased by 1.19% to close at N22.11trillion.

Market breadth (a measure of investor sentiment) weakened in the previous week, decreasing from 1.30x to 1.14x as 32 stocks appreciated against 28 stocks that declined. MEYER and ROYALEX topped the market gainers with 27.27% and 15.00% WoW respectively, while CHAMPION and UPDC were the top losers with declines of 13.65% and 10.17% respectively WoW.

The activity level weakened as the trade volume and value declined by 49.92% and 43.01% respectively WoW. A total turnover of 1.32 billion shares worth N15.33 billion in 18292 deals were traded during the week by investors on the floor of the Exchange. Trading in the top three equities by volume were FBNH, INTBREW and ACCESS. They accounted for 469.88 million shares worth N4.17 billion in 1,958 deals; contributing 35.68% and 27.20% to the total equity turnover volume and value respectively.

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