The NGXASI ended the week on a positive note, up by 50 bps today to settle at 98,605 points. Today’s performance was mostly attributable to the continuous rally in Oando (+9.88%) as well as upticks in UBA (+7.98%), MTNN (+0.91%), Zenithbank (+2.24%), Accessco (+3.16%), NB (+6.90%), Transcorp (+4.15%), Jberger (+10.00%), ETI (+4.05%), Ucap (+10.00%), and FBNH (+0.67%). On the reverse side, Presco (-5.17%), Okomu (-2.26%), Custodian (-8.59%), Axa Mansard (-6.85%), GTCO (-0.22%) and Nascon (-2.93%) closed lower today.
Market turnover stood at N8.2 billion ($5.1 million), primarily driven by trades in Oando, Zenithbank, GTCO and UBA. Year to date, the index is up by 31.87%. We expect the market to maintain its current levels in the coming week.