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Market Review for the Week Ended January 12, 2024

Bullish run persisted for the second week as transactions on the floor of the Nigerian Stock Exchange Market closed the All-Share Index ASI up 4.24% w/w, and 11.06 m/m and y/y
The market closed the trading week on a positive note, as the NGX-ASI rallied 4.24% w/w to close at 83,042.96 points, while market capitalization appreciated by ₦1.842 trillion to ₦45.442 Trillion

Activity level was also very positive as the volume traded increased by 42.14% w/w to 5.719 billion units of shares from 3.320 billion. Also, the value of trade moved up by 112.74% w/w to N88.828 billion N41.755. The number of deals moved up by 70.37% w/w to 80,064 deals from 46,994 deals.

The financial services being the most active contributed 67.72% of the total volume of trade and 60.08% of the total transaction value.
The most actively traded stocks in volume for the week are
Transcorp                               591.2 million units
FCMB                                    360.5 million units
Fidelity Bank                         329.6 million units

while the most actively traded stocks in value for the week are
UBA                                                                ₦8.6 bbillionn
Access Bank Holding                                    ₦8.2 billion
Transcorp                                                      ₦8.0billion

Sectorial Index Performance
Performance across the sectors index was also very positive as shown below;
Banking                                               5.10%
Insurance                                             7.63%
Consumer Goods                                9.60%
Oil and Gas                                         -1.61%
Industrial Goods                                 4.80%
Conglomerates                                    3.90%

Market Breadth

Investor sentiment was weakened this week as the market breadth for the week though positive but not as strong as recorded last week. The market recorded 75 stocks gained which was a 14.77% decline w/w and 23 stocks an increase of 35.29% poor w/w

Notable Gainers for the week
Cadbury Nigeria                                  42.31%
Veritas Kapital Assurance                  39.47%
Julius Berger Nigeria                          32.94%
The Initiate                                          31.43%
Jaiz Bank                                            31.30%
Guinea Insurance                                29.73%

Notable Losers
Daar Communications                        30.23%
Total Energies Marketing Nigeria      10.00%
NEM Insurance                                   9.45%
Computer Warehouse Group              9.29%

Stocks to Watch for the Week
Tantalizer                                 @ N0.50
NASCON                                 @ N60.00
Fidelity Bank                           @ N13.40
Japaul Gold                             @ N2.04
FCMB                                       @ N11.00
Transcorp                                @ N13.85
Dangote Sugar                        @ N68.20
Sterling Bank                           @ N6.44
Wema Bank                             @ N8.77
Cadbury                                   @N24.05
NAHCO                                    @ N30.00
Please note: The value of shares and investments can go down as well as up, leading to investors not getting back the amount invested. Past performance is not a guide to future performance. Always consult an expert before making an investment decision

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