NGX ASI closes positive w/w, up 119bps

Having gained in four of the five trading sessions, the All-Share index advanced by 119bps week-on-week. Investor’s interest in MTNN (+3.47% w/w), ARADEL (+18.28% w/w) and ZENITHBANK (+0.11% w/w) bolstered the market’s performance, overriding selloffs in GTCO (-0.47% w/w), UBA (-1.62% w/w) and ACCESSCORP (-2.62%w/w). Accordingly, the market capitalization added ₦707.61bn w/w to close at ₦60.24trn.
Today, the Lagos bourse maintained the bullish trend as the All-Share Index and Year-to-date (YTD) return gained 63bps to close at 99,378.06 points and 32.90% respectively. On market movers, ARADEL (-10.00%), ZENITHBANK (-0.57%) and UBA (-1.06%) underpinned the market’s positive performance resulting in a gain in market capitalization by ₦374.30bn today.
 Market activities ended with trade turnover increasing by 50.65%. A total of 544.24m shares valued at ₦10.63bn were exchanged in 8,464 deals. JAPAULGOLD (+0.00%) led the volume chart with 71.74m units transacted, while DANGCEM (+0.00%) led the value chart in  ₦3.22bn worth of deals.
Market breadth closed positive at a 2.63-to-1 ratio with advancing issues outnumbering declining ones. ARADEL (+10.00%) topped twenty (20) others on the leader’s log, while ACADEMY (-1.75%) topped seven (7) others on the laggard’s table