Stock investors gain N481bn in one week as bullish trend returns
Nigerian Exchange Group NGX
Stock investors gain N481bn in one week as bullish trend returns
Nike Popoola
Equities market retuned to growth path as investors gained N481bn at the close of this week’s trading on Friday August 9, 2024.
The investors had earlier lost N1.432tn in two weeks to bearish trend.
The NGX All-Share Index and Market Capitalization appreciated by 0.87% to close the week at 98,592.12 and N55.978 trillion respectively.
Similarly, all other indices finished higher with the exception of NGX Main Board and NGX Industrial Goods which depreciated by 0.09% and 3.67% respectively, while the NGX ASeM and NGX Sovereign Bond indices closed flat.
According to the NGX, Forty-six (46) equities appreciated in price during the week higher than forty (40) equities in the previous week. Thirty-eight (38) equities depreciated in price lower than forty (40) in the previous week, while sixty-seven (67) equities remained unchanged, lower than seventy-one (71) recorded in the previous week.
The NGX market report obtained by Dailyeconomy showed a total turnover of 2.679 billion shares worth N49.017bn in 47,451 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 3.393 billion shares valued at N52.304bn that exchanged hands last week in 44,814 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.982 billion shares valued at N31.985bn traded in 23,467 deals; thus contributing 74.00% and 65.25% to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with 229.680 million shares worth N7.441bn in 4,021 deals. The third place was the ICT Industry, with a turnover of 113.887 million shares worth N3.059bn in 4,260 deals.
Trading in the top three equities namely Access Holdings Plc, Veritas Kapital Assurance Plc and United Bank for Africa Plc (measured by volume) accounted for 756.035 million shares worth N10.726 billion in 6,985 deals, contributing 28.22% and 21.88% to the total equity turnover volume and value respectively.
