The Nigerian equities market concluded the trading week on a bullish note, with the All-Share Index (ASI) recording a 1.57% gain, closing at 104,421.23 points.
Thank you for reading this post, don't forget to subscribe!The market capitalization also increased by N17.97 billion to N36.88 trillion, accounting for more gainers (61) than decliners (12).
The bullish sentiment was particularly notable in the Banking and Consumer goods sectors, contributing to a year-to-date gain of 30.9%. Key contributors to the gains included TRANSCORP, NEIMETH, STERLINGNG, MEYER, and PZ, with notable price movements.
The sectoral performance was mixed, with the Banking and Consumer goods indexes leading the gainers, while the Insurance sector faced a decline. Trading activity exhibited a varied trend, with total deals for the day declining, but the total traded value and volume increasing significantly.
The NGX Banking, NGX Insurance, NGX Consumer Goods, NGX Oil/Gas, and NGX Industrial indexes posted gains, while the Insurance sector faced a decline. The market closed with more gainers (22) than decliners (9), reflecting positive momentum.
In the fixed-income market, NIBOR rose due to tight liquidity conditions. Overall, the report suggests a positive trajectory in the equities market, with continued bullish sentiment and notable sectoral performances.
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