Stock market investors gain N488bn in one week

Stock market investors gain N488bn in one week

Nike Popoola

Stock market investors recorded one-week gain of N488bn at the end of trading on the floor of the Nigerian Exchange Limited on Friday.

The NGX All-Share Index and Market Capitalization appreciated by 0.87% and 0.86% to close the week at 100,539.40 and N56.929 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX Banking, NGX Insurance, NGX AFR Bank Value, NGX Consumer Goods, NGX Oil and Gas, NGX Growth and NGX Sovereign Bond which depreciated by 0.05%, 4.86%, 0.07% 0.20%, 0.10%, 0.43% and 4.35% respectively while the NGX ASeM index closed flat.

According to the NGX, 37 equities appreciated in price during the week higher than 34 equities in the previous week.

Thirty-four equities depreciated in price lower than thirty-eight (38) in the previous week, while 80 equities remained unchanged, lower than eighty-two (82) recorded in the previous week.

The NGX market report obtained by dailyeconomy showed a total turnover of 2.827 billion shares worth N42.366bn in 44,277 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.765 billion shares valued at N85.230bn that exchanged hands last week in 40,796 deals.

The Financial Services Industry (measured by volume) led the activity chart with 2.179 billion shares valued at N30.667bn traded in 25,260 deals; thus contributing 77.08% and 72.38% to the total equity turnover volume and value respectively.

The Industrial Goods Industry followed with 246.921 million shares worth N2.039bn in 2,068 deals. The third place was the Oil and Gas Industry, with a turnover of 107.218 million shares worth N1.704bn in 3,128 deals.

Trading in the top three equities namely Jaiz Bank Plc, Cutix Plc and FCMB Group Plc (measured by volume) accounted for 1.140 billion shares worth N4.632bn in 2,701 deals, contributing 40.32% and 10.93% to the total equity turnover volume and value respectively.