Market Recap: Investors Gain N3.4 Trillion in a 4-Day Trading Week!
Despite a shorter trading week due to a public holiday, the Nigerian stock market had a very strong performance, adding ₦3.4 trillion to investors’ wealth!
Key Highlights:
• Market Value (Capitalisation) rose from ₦79.8 trillion to ₦83.2 trillion
• The All-Share Index (ASI) climbed by 4.3%, now standing at 131,586 points
• Year-to-Date gain improved to +27.84%
️ Top Gainers Driving the Market Surge:
• BUA Cement: +31.28% ( major boost)
• Dangote Cement: +16.47%
• Stanbic IBTC: +18.38%
• Nestlé Nigeria: +20%
Market Activity at a Glance:
• Over 17.5 billion shares worth ₦500.8 billion were traded in 142,000+ deals
• This was a big jump compared to the 5.4 billion shares traded the previous week
Sectors Leading the Charge:
• Financial Services Sector dominated with 90% of total trades (thanks to bulk sales of shares linked to FirstHoldco and Fidelity Bank)
• ICT and Consumer Goods came next in terms of activity
Top Traded Stocks by Volume:
• FirstHoldco
• FCMB
• Fidelity Bank
(These three alone accounted for over 75% of total trading volume!)
Sectors That Slipped:
A few sectors didn’t join the party:
• Insurance (-3.65%)
• Oil & Gas (-0.76%)
• NGX Growth Index (-4.80%)
Outlook:
Investors are now watching to see how the upcoming CBN MPC meeting might affect interest rates and stock prices going forward.
Despite a shorter trading week due to a public holiday, the Nigerian stock market had a very strong performance, adding ₦3.4 trillion to investors’ wealth!
Key Highlights:
• Market Value (Capitalisation) rose from ₦79.8 trillion to ₦83.2 trillion
• The All-Share Index (ASI) climbed by 4.3%, now standing at 131,586 points
• Year-to-Date gain improved to +27.84%
️ Top Gainers Driving the Market Surge:
• BUA Cement: +31.28% ( major boost)
• Dangote Cement: +16.47%
• Stanbic IBTC: +18.38%
• Nestlé Nigeria: +20%
Market Activity at a Glance:
• Over 17.5 billion shares worth ₦500.8 billion were traded in 142,000+ deals
• This was a big jump compared to the 5.4 billion shares traded the previous week
Sectors Leading the Charge:
• Financial Services Sector dominated with 90% of total trades (thanks to bulk sales of shares linked to FirstHoldco and Fidelity Bank)
• ICT and Consumer Goods came next in terms of activity
Top Traded Stocks by Volume:
• FirstHoldco
• FCMB
• Fidelity Bank
(These three alone accounted for over 75% of total trading volume!)
Sectors That Slipped:
A few sectors didn’t join the party:
• Insurance (-3.65%)
• Oil & Gas (-0.76%)
• NGX Growth Index (-4.80%)
Outlook:
Investors are now watching to see how the upcoming CBN MPC meeting might affect interest rates and stock prices going forward.