Investors’ gained ₦350.15 billion w/w to restore YTD performance indicator to a positive region

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The Nigerian Stock Market this week continued its recent stellar performance, as it closed positive in all the four trading sessions. This came as the local bourse gained a total of ₦350.15 billion over the four trading sessions, culminating in a week-on-week gain of 2.53%.

As a result, the NSE-All Share Index increased from 26,319.34 absolute points last Friday to 26,985.77 absolute points, while Market Capitalization value gained 2.55% w/w to close at ₦14.11 trillion. It is worthy to note that the slight increase in the percentage gained in Market Capitalization above that of the All Share Index was due to the listing of an additional 146,878,241 ordinary shares of Dangote Sugar Plc at 50k each on Wednesday.

Four out of the five main sectors closed positively this week, led by Banking sector (+4.24%), Industrial goods sector (+3.25%), Oil & Gas sector (+1.79%), and Insurance sector (+0.64%) w/w; save for the Consumer goods sector which lost -0.75% w/w as a result of profit-taking on NB.

TOTAL emerged the best performing stock for this week with a week-on-week gain of 21.00%, while CORNERST shed -15.49 % w/w to emerge the top loser.

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Overall, a total turnover of 1.53 billion shares worth ₦16.90 billion in 17,882 deals was traded this week by investors on the floor of the Nigerian exchange in contrast o a total 1.57 billion shares valued at ₦20.56 billion that exchanged hands last week in 18,396 deals.

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A total of Thirty-six (36) equities appreciated at price during the week, higher than Thirty-five (35) equities in the previous week. Fifteen (15) equities depreciated in price, lower than Twenty-eight (28) equities in the previous week, while one hundred and twelve (112) equities remained unchanged, higher than a hundred (100) in the previous week.

Market Outlook: Week ending 9th October 2020

After two weeks of a bullish trend, we expect to see seesaw movement in the market performance next week, owing largely to anticipated profit taking by active traders, and the renewed pressure on crude oil prices in the international market which could renew concern of foreign investors on the Nigerian market. Hence, we see the NSE-ASI retreating mildly next week.

GTI RESEARCH

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Investors’ gained ₦350.15 billion w/w to restore YTD performance indicator to a positive region - Brand SpurInvestors’ gained ₦350.15 billion w/w to restore YTD performance indicator to a positive region - Brand Spur
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Investors’ gained ₦350.15 billion w/w to restore YTD performance indicator to a positive region - Brand SpurInvestors’ gained ₦350.15 billion w/w to restore YTD performance indicator to a positive region - Brand Spur

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- Advertisement -Investors’ gained ₦350.15 billion w/w to restore YTD performance indicator to a positive region - Brand SpurInvestors’ gained ₦350.15 billion w/w to restore YTD performance indicator to a positive region - Brand Spur