Financial Industry Drives Stock Market as ASI Crosses 100,000 Mark
The Financial Services Industry led the activity chart of the Nigerian Exchange Ltd. (NGX), contributing 69.67 per cent and 60.94 per cent in volume and value respectively, to the total equity turnover in the just concluded week.
Specifically, players in the sector traded 1.847 billion shares valued at N30.455 billion in 21,899 deals.
The Conglomerates industry followed with 272.398 million shares worth N3.546 billion in 2,165 deals.
The third place was the Oil and Gas Industry, with a turnover of 112.800 million shares worth N2.259 billion in 2,748 deals.
Meanwhile, trading in the top three equities, namely FBN Holdings Plc, Transnational Corporation Plc, and Access Holdings Plc, by volume, accounted for 1.032 billion shares worth N19.799 billion in 6,083 deals.
This contributed 38.92 per cent and 39.62 per cent to the total equity turnover in volume and value respectively for the week under review.
Overall, investors traded 2.651 billion shares worth N49.976 billion in 41,610 deals this week, in contrast to 3.301 billion shares valued at N53.157 billion that exchanged hands last week in 27,536 deals.
Consequently, the NGX All-Share Index (ASI) appreciated by 0.32 per cent to settle at 100,057.49, compared to 99,743.05 recorded last week.
The News Agency reports that the All-Share Index dropped from the 100,000 mark on April 16.
The market capitalisation also appreciated by 0.32 per cent to close the week at N56.602 trillion, in contrast to N56.424 trillion posted in the previous week, resulting in a week-on-week gain of N178 billion for investors.
Similarly, all other indices finished higher except NGX Consumer Goods, NGX Industrial Goods, and NGX Growth, which depreciated by 0.56 per cent, 0.33 per cent, and 0.04 per cent respectively.
The NGX ASeM and NGX Sovereign Bond indices closed flat.
Forty-eight equities appreciated in price during the week, lower than the 53 equities in the previous week.
Thirty-four equities depreciated, higher than the 25 in the previous week, while 72 equities remained unchanged, lower than the 76 recorded in the previous week.
On the gainers’ chart, Computer Warehouse Group (CWG) led with a 44.55 per cent increase to close at N7.95 per share, while Jaiz Bank led the losers’ chart with an 11.36 per cent decrease to close at N1.95 per share. #Financial Industry Drives Stock Market as ASI Crosses 100,000 Mark
