Bargain hunters bring back bulls, market gains N73.1bn

After weeks of treading on the red zone, Nigerian equities market was last week dragged back by bargain hunters who had buying interest in Dangote Cement, Fidson, Julius Berger, among others.

The result is that the market All Share Index (ASI) went up 0.6 per cent week-on-week (w/w)

The buying interests in DANGCEM was (+6.5 per cent), FIDSON (+18.1 per cent) and JBERGER (+10.0 per cent) buoyed overall performance.

Consequently, the NSE All-Share Index appreciated 0.6 per cent w/w to settle at 24,200.60 points despite losing on four of five trading sessions. As a result, Year-to-Date (YTD) loss eased to -9.0 per cent as market capitalisation rose N73.1 billion w/w to close at N12.7 trillion.

Activity level improved as average volume and value traded rose 19.5 per cent and 83.6 per cent to 242.8 million units and N2.7 billion respectively. The top traded stocks by volume were FBNH (154.3 million units), UBA (99.3 million units) and NIGERIAN BREWERIES (89.4 million units) while NIGERIAN BREWERIES (N2.5 billion), DANGCEM (N2.4 billion) and GUARANTY (N1.5 billion) led by value.

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