By Peter Egwuatu 

The Nigerian equities market sustained rally last week, as investors take positions across the sectors, with renewed interest in MTN Nigeria, International Breweries, First Bank Nigeria Holdings, FBNH among others lifting the market positively.

Consequently, the Nigerian Exchange Limited, NGX closed the week on a bullish note, as the All-Share Index, ASI increased by 0.99% Week on Week, WoW to 102,133.30 points from 101,129.09 points the previous week.

The positive outturn stemmed from renewed interest in MTNN gaining  10.54% WoW alongside positive sentiments in International Breweries, which rose by  11.00% WoW and FBNH 4.85% WoW. The Year to Date, YtD market return rose to 36.59%, while the Month-to-Date returns settled at +4.7%.

Specifically, investors gained over N607 billion as to the market capitalisation, which represents total value of investment on the Exchange rose to N61.9 trillion on Friday from N61.303 trillion the previous week.

Meanwhile, Friday’s trading after the Boxing Day holiday showed that total volume traded increased by 6.3% to 440.44 million units, valued at N17.18 billion, and exchanged in 12,375 deals. UBA was the most traded stock by volume at 51.17 million units, while Dangote Cement was the most traded stock by value at N11.14 billion.

On sectors, the Banking Index declined by 1.2% and Oil & Gas Index 0.2% indices while the Insurance Index up by 2.3% and Consumer Goods Index 0.2%.The Industrial Goods Index closed flat.

Analysts emphasized that the game in the market has changed, amid increased position taking across the major sectors of the market.

Analysts at InvestData  Consulting said : “We expect positive sentiment to continue amid profit taking, as bargain hunters position, while rebalancing their portfolios