The Nigerian equity market recorded another positive week, as buying interests on bell weather stocks pushed the market further into the positive region, despite closing in the red territory in the last three successive trading days.
The NSE-ASI gained 5.3% w/w to close at 28,415.3 points. As such, the YTD returns came in at +5.9% and market capitalization gained N747.2bn to close at N14.9tn. In terms of activity, average volume and value traded surged by 63.9% and 67.4% to 628.0mn units and N7.1bn, respectively.
All sector indices under closed on the green with for the week the Banking sector (+10.6%) ahead of the pack. The Industrial goods (+2.8%), and Consumer goods (+1.9%) followed, thanks to price appreciation in ACCESS (+16.4%), FBHN (+19.2%), UBA (+8.8%), DANGCEM (+4.2%), INTBREW (+21.0%), and GUINNESS (+7.1%), respectively. Also, the Insurance (+1.6%) and Oil & Gas (+1.7%) sectors were not left out of the party, owing to LINKASSURE (+15.8%), MANSARD (2.1%), AIICO (+6.3%), TOTAL (+5.4%), and SEPLAT (+2.5%).