The Nigerian stock market witnessed a surge in market capitalization, reaching N55.735 trillion, an increase of 0.62% from the previous day. However, despite this increase, the week saw a total loss of N1.42 trillion.
The All-Share Stock Index (ASI) also rose 0.62% to reach 101,858.37 points, compared to 101,227.66 points the day before. However, on a weekly basis, the ASI shows a decline of 2.45%, having recorded losses in four of the five sessions of the week.
This upward performance is mainly attributed to the buying interest generated by shares of Geregu, Zenith Bank and Guaranty Trust Holding Company (GTCO) on Friday.
An analysis of market activities reveals that the trading volume was higher than the previous session, with a 2.54% increase in transaction value. A total of 321.89 million shares, worth N7.35 billion, were traded in 8,925 transactions, compared to 478.38 billion shares, worth N7.17 billion of naira, in 10,957 transactions recorded on Thursday.
In the trading volume ranking, Transcorp ranks first with 33.34 million shares, worth N439.02 million, followed by Universal Insurance with 21.25 million shares, worth worth N7.81 million. Ecobank Transnational Incorporated (ETI) traded 18.78 million shares, worth N486.01 million, while United Bank of Africa (UBA) sold 17.58 million shares, worth N486.01 million. worth N448.47 million. Access Holdings on its part traded 16.19 million shares worth N408.13 million.
On the gainer’s side, May & Baker posted a 10% rise to close at N7.04, followed by Geregu with a 9.92% increase to N675.90 per share. Meyer Plc on the other hand rose by 9.86% to N6.91, while Veritas Kapital Assurance rose by 9.84% to close at N0.67 per share. Juli PLC also recorded a rise of 9.78% to close at N1.01 per share.
Among the losers, Eterna Plc posted a decline of 9.80% to close at N17.95, followed by Industrial and Medical Gases with a decline of 9.38% to reach N13.50 per share. Daar Communications on the other hand recorded a decline of 9.21% to close at N0.69, while Neimeth International Pharmacy fell by 9.09% to close at N1.80 per share. Finally, Unity Bank lost 8.33% to close at N2.31 per share.
Despite the volatility witnessed in the Nigerian stock market during the week, it is important to highlight that some sectors recorded positive performance, thus providing attractive opportunities for investors. It is therefore essential to closely monitor market developments and make informed investment decisions.