Stock market investors gain N399bn in one week
Nigerian Exchange Group NGX
Stock market investors gain N399bn in one week
Nike Popoola
Stock market investors gained N399bn at the end of trading on the floor of the Nigerian Exchange Limited this week.
The market opened for four trading days this week as the Federal Government of Nigeria declared Wednesday 12th June 2024 as public holiday to commemorate Democracy’s Day celebration.
The NGX All-Share Index and Market Capitalization appreciated by 0.71 per cent to close the week at 99,925.29 and N56.527tn respectively.
Similarly, all other indices finished higher while the NGX ASeM and NGX Sovereign Bond indices closed flat.
According to the NGX, 51 equities appreciated in price during the week higher than 35 equities in the previous week.
Twenty-four equities depreciated in price lower than 37 in the previous week, while 79 equities remained unchanged, lower than 82 recorded in the previous week.
The NGX weekly market report obtained by Daily Economy showed a total turnover of 2.633 billion shares worth N43.652bn in 33,709 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.703 billion shares valued at N30.495bn that exchanged hands last week in 37,765 deals.
The Financial Services Industry (measured by volume) led the activity chart with 2.176 billion shares valued at N31.741bn traded in 17,295 deals; thus contributing 82.64 per cent and
72.72 per cent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 176.983 million shares worth N5.309bn in 3,785 deals. The third place was the Oil and Gas Industry, with a turnover of 71.184 million shares worth N3.906bn in 2,648 deals.
Trading in the top three equities namely Fidelity Bank Plc, Access Holdings Plc and Zenith Bank Plc (measured by volume) accounted for 1.351 billion shares worth N20.222bn in 6,631 deals, contributing 51.31 per cent and 46.33 per cent to the total equity turnover volume and value respectively.
