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Research

WEEKLY MARKET UPDATE:

The NSE ASI closed the week in green by 1.61% as it closed positive in all the 5 trading sessions during the week as a result of buy pressures in bellwether stocks such as FBNH (+21.74%) and ETERNA (+10.00%). Consequently, at 40,868.36 points, the equities market’s Year-to-Date return improved to 1.48% as market capitalization increased by 1.62% to close at N21.30 trillion.

Market breadth (a measure of investor sentiment) strengthened last week, rising from 1.50x to 1.62x as 42 stocks appreciated against 26 stocks that declined. UPL and FBNH topped the market gainers with 28.46% and 21.74% WoW respectively, while CORNERST and MORISON were the top laggers with declines of 12.07% and 10.00% respectively WoW.

The activity level was mixed as the trade volume declined by 0.37% while the total value increased by 35.72% WoW. A total turnover of 2.179 million shares worth N21.963 billion in 22,438 deals were traded during the week by investors on the floor of the Exchange. Trading in the top three equities by volume were FBNH, UPL and FIDELITYBK. They accounted for 1.161 billion shares worth N12.338 billion in 3,460 deals; contributing 53.28% and 56.18% to the total equity turnover volume and value respectively.

Read the full Report here