Equities: ASI sees 2bps uptick Friday to close week in green

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Equities gained marginally on Friday as the All Share Index (ASI) rose 2bps to close at 25,309.37 points for the week on buying interests in GUARANTY(+0.79%), ACCESS(+2.40%), and STERLNBANK (+3.45%).

Equities

Consequently, YTD rose to -5.71%, while WTD, MTD and QTD saw marginal increases to +0.35%, +2.49%, and +3.39% respectively.

Investors gained N2.67 billion with market capitalization at N13.20 trillion. Volume traded tanked 45.46% as institutional investors remained on the sidelines. On Friday, a total of 137.05 million units of shares were traded in 2,869 deals worth N920.54 million.

The top active stocks were ACCESS (25.78 million units), FBNH (15.65 million units), FTNCOCOA (11.34 million), ROYALEX (11.18 million) and FCMB (8.13 million units).

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By value, the top stocks were ACCESS (N162.51 million), GUARANTY (N131.29 million, NESTLE (N91.56 million), DANGCEM (N82.23 million) and ZENITHBANK (N80.11 million).

Investors’ sentiments strengthened on Friday with market breadth expanding to 0.92X compared to 0.58X in the previous day?s trading session on the back of the 12 stocks advancing against 13 laggards.

Top gainers in the day were FTNCOCOA (+9.09%), ROYALEX (+8.33%), WAPIC( +6.06%), STERLNBANK (+3.45%) and CAP (+3.41%). On the other hand, the biggest decliners were GUINNESS (-9.29%), JAIZBANK (-7.94%), JAPAUOIL (-4.55%), TRANSEXPR (-2.60%), and FBNH (-1.98%). 3 out of 5 sectoral indices under our coverage closed in the green.

The Insurance Index advanced 62bps while Banking Index and Industrial gained 37bps and 1bps, Oil and Gas Index remained flat, while consumer goods index declined by 20bps.

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