Stock investors gain N608bn in one week

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Stock market investors gained N608bn at the close of this week’s trading on Friday September 13, 2024.

The NGX All-Share Index and Market Capitalization appreciated by 1.06% and 1.10% to close the week at 97,456.62 and N56.002 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX Growth which depreciated 0.03% while the NGX ASeM index closed flat.

According to the NGX, 52 equities appreciated in price during the week higher than thirty-six (36) equities in the previous week.

Thirty-one (31) equities depreciated in price lower than forty-six (46) in the previous week, while sixty-eight (68) equities remained unchanged, lower than sixty-nine (69) recorded in the previous week.

The NGX market report obtained by Dailyeconomy showed that a total turnover of 2.584 billion shares worth N51.205 billion in 50,615 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.141 billion shares valued at N51.217 billion that exchanged hands last week in 55,603 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.707 billion shares valued at N26.989 billion traded in 19,277 deals; thus contributing 66.05% and 52.71% to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with 332.829 million shares worth N11.997 billion in 9,956 deals. The third place was the Services Industry, with a turnover of 146.189 million shares worth N530.544 million in 3,404 deals.

Trading in the top three equities namely Jaiz Bank Plc, Zenith Bank Plc and Japaul Gold & Ventures Plc (measured by volume) accounted for 947.855 million shares worth N11.084 billion in 4,822 deals, contributing 36.68% and 21.65% to the total equity turnover volume and value respectively.