Emmanuel Ochayi
The Nigerian Exchange (NGX) wrapped up the week on a high note. The All-Share Index (ASI) witnessed a 0.22% increase, closing at 70,196.73 points, leaving traders and investors with smiles on their faces.
Equities experienced a surge, adding N75 billion to the market capitalization, which ended at N38.556 trillion. This marks the second-highest figure achieved in the week, highlighting the positivity that engulfed the market.
Join our WhatsApp ChannelThis week will be etched in the memory of NGX traders and investors as one of the most uplifting trading weeks this year, with a week-on-week appreciation of 4.9%. It’s a testament to the resilience and potential of the Nigerian market.
In terms of trading statistics, the market saw 6,436 deals, which, while slightly down from yesterday’s 8,396, still demonstrated a robust trading environment. However, there was a decline in trading volume, with 410.362 million shares exchanged today compared to 525.457 million the previous day.
Notably, there was a surge in trading value, with N9.16 billion traded today, an increase from yesterday’s N6.09 billion.
The top gainers in Friday’s trading session were INTBREW (+9.64%), ABCTRANS (+8.86%), CHAMPION (+8.82%), ROYALEX (+8.00%), and AIICO (+7.14%). On the flip side, PRESTIGE, TANTALIZER, CHAMS, DAARCOMM, and SOVRENINS were the top losers.
In terms of volume, FIDELITYBK led the way with 61.1 million units, while in trading value, AIRTELAFRI took the lead with N2.22 billion.
The market’s top stocks worth over one trillion experienced mixed sentiments, with BUACEMENT and MTNN recording price declines, and AIRTELAFRI and GTCO recording price appreciations. SEPLAT, ZENITHBANK, and BUAFOOD remained steady with no price changes.
In the ever-changing landscape of the Nigerian stock market, this week’s positive performance serves as a testament to the resilience and potential of the NGX. Investors and traders are looking forward to what the next week will bring in this journey of financial growth and market dynamics.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
