Local Stock Market Records N11.9bn Gain In A Week

The Nigerian Exchange (NGX) Limited remained in the green zone last week as financial stocks lifted the market by N11.9 billion, OduNews reports.

The shares of Guaranty Trust Holding Company (GTCO), Mutual Benefits Assurance, and FBN Holdings accounted for the 491.8 million shares turnover at Customs street last week.

The volume of shares traded was, however, higher than a total of 5.9 billion units valued at N8.8 billion that exchanged hands in 17 deals during the preceding week.

The top three equities accounted for 211 million shares worth N2.5 billion in 2,834 deals, contributing 42.92 per cent to total turnover.

On the sectoral activity chart, the financial services industry (measured by volume) led the chart with 346.6 million shares valued at N3.8 billion traded in 7,427 deals.

The sector contributed 70.49 per cent to the total equity turnover volume. The ICT industry followed with 40.5 million units worth N3.9 billion in 1,060 deals.

The conglomerate industry ranked third with a turnover of 20.3 million shares worth N28.9 million in 356 deals. The Nigerian Exchange Limited (NGX) All-Share index and market capitalisation appreciated by 0.46 per cent to close the week at 47,569.04 and N25.9 trillion respectively.

Similarly, all other indices finished higher except NGX Premium, NGX Consumer Goods and NGX Oil & Gas which depreciated by 0.10 per cent, 0.74 per cent and 2.13 per cent respectively. The NGX ASeM and NGX Growth indices which closed flat.

The market opened for four trading days, last week, as the Federal Government declared Monday a holiday to commemorate the 2022 Eid-el Maulud celebration.

Gains in BUA Cement (+8.7 per cent), and some tier-1 banks – GTCO (+5.3 per cent), AccessCorp (+5.3 per cent), and Zenith Bank (+2.3 per cent) spurred the weekly gain.

A total of 1,192 units of Exchange Traded Products (ETPs) valued at N2 million were traded last week in 28 deals compared to a total of 1,667 units valued at N264, 986.25 transacted in 19 deals.

13,882 units of bonds, valued at N13.9 million were traded last week in 12 deals compared to a total of 4,649 units valued at N4.8 million transacted last week in 16 deals.

On the price movement chart, 25 equities appreciated during the week, higher than 11 equities in the previous week.

Twenty-four equities depreciated lower than 46 in the previous week, while 108 equities remained unchanged higher than 100 equities recorded in the previous week.