Lagos: The equities market staged a stunning turnaround this week, with investors raking in N3.24 trillion and snapping a week-long losing streak.
Renewed buying interest in large and mid-capitalised stocks drove the market into positive territory.
Stocks such as Dangote Cement Plc, Cadbury Nigeria Plc, Mecure Industries Plc, Neimeth International Pharmaceuticals Plc, LivingTrust Mortgage Bank Plc, and 40 others rose 2.10 per cent, or N3.236 trillion, to close at N157.094 trillion, up from N153.858 trillion on Thursday.
The All-Share Index (ASI) advanced by 5,041.22 points, or 2.10 per cent, settling at 244,775.83—up from 239,734.61 in the previous session.
This raised the Year-to-Date return to 57.30 per cent. Market breadth closed positive with 45 gainers and 31 losers. Mecure, Neimeth, and Livingtrust Mortgage topped the gainers’ chart by 10 per cent each, ending at N1,088, N72.60, N9.90, and N3.52 per share, respectively.
Conversely, UACN and Industrial and Medical Gases fell by 10 per cent each, finishing at N171 and N42.30 per share. Learn Africa dipped 9.89 per cent to N8.20, and Deap Capital Management shed 9.69 per cent, settling at N5.50. Market activity declined as traded volume dropped 36.89 per cent to 1.16 billion shares worth N59.80 billion across 72,733 deals. Access Corporation led trading volume with 104.43 million shares, representing 9.04 per cent of the total. MTN Nigeria topped the value chart, achieving N7.39 billion, or 12.35 per cent of total value traded.
