NSE ASI Closed In Green WoW By 1.23% After Closing In Bullish Form

NSE-Brand Spur Nigeria

The NSE ASI closed in green WoW by 1.23% after closing in the bullish form in 4 of the 5 trading sessions during the week. At 38,726.10, the equities market’s Year-to-Date return is -3.84% while the market capitalization is N20.18 trillion.

Market breadth (a measure of investors’ sentiment) weakened last week, declining from 1.07x to 1.00x as the number of gainers and losers are the same at 33 (thirty-three). UPL and MORISON topped the market gainers with 43.59% and 20.21% WoW respectively, while CWG and ROYALEX topped the losers’ chart with declines of 26.09% and 11.11% WoW respectively.

The volume and value of stocks traded on the exchange this week improved by 4.34% and 0.81% respectively. A total turnover of 1.082 billion shares worth N9.548bn in 17,933 deals were traded this week by investors on the floor of the Exchange.

Trading in the top three equities by volume was SOVRENINS, ZENITHBANK and VERITASKAP. They accounted for 235.953 million shares worth N1.82 billion in 1,654 deals; contributing 21.80% and 19.07% to the total equity turnover volume and value respectively.
NSE ASI Closed In Green WoW By 1.23% After Closing In Bullish Form - Brand Spur

Outlook for the week

We expect a bullish momentum in the coming week as the equities market still presents decent opportunities for investors chasing positive real return on investments.