Nigerian Exchange Gains N1.8trn as 62 Tickers Rally
The equities market delivered a juicy weekly gain again as sixty-two (62) listed companies’ shares made positive movement in the local bourse.
On weekly comparison, market data showed the equities capitalisation inched higher by N1.8 trillion as investors bet large on improved sentiment.
The NGX All-Share Index closed at 59,014.85 points on Monday, a slight increase of 2 basis points compared to the previous week.
The market continued its rally for four out of five trading sessions, with a 60 basis point increase by Thursday, Futureview Financial Services Limited said in a note to the investors.
The firm however noted that profit-taking dominated Friday’s market activities, leading to a decline of 26 basis points and a week-end closing of 59,206.63 points.
Overall, the market recorded a week-to-date gain of 35 basis points and a year-to-date gain of 15.52%. A total turnover of 3.369 billion shares worth N41.986 billion in 39,764 deals was traded last week by investors on the floor of the Exchange.
This was in contrast to a total of 4.276 billion shares valued at N62.176 billion that exchanged hands last week in 44,344 deals.
The Financial Services Industry (measured by volume) led the activity chart with 2.515 billion shares valued at N23.030 billion traded in 19,895 deals; thus contributing 83.86% and 66.06% to the total equity turnover volume and value respectively, Futureview told investors in its note.
Top traded stocks by volume were UNIVINSURE (295.0m units), GTCO (238.7m units), and UBA (218.4m units), while GTCO (₦7.6bn), MTNN (₦2.8bn), and ZENITH (₦2.6bn) led in terms of value. WAPIC spiked by 28.8% and CHIPLC rose by 25.5% on account of investors’ positioning.
The Oil and Gas Industry followed with 162.226 million shares worth N4.174 billion in 2,953 deals. In the week, ETERNA popped higher by 14.9% and SEPLAT gained 3.0%.
The third place was the Conglomerates Industry, with a turnover of 148.138 million shares worth N530.633 million in 1,962 deals.
Trading in the top three equities namely Universal Insurance Plc, United Bank for Africa Plc, and Guaranty Trust Holding Company Plc (measured by volume) accounted for 865.658 million shares worth N12.138 billion in 4,786 deals, contributing 25.70% and 28.91% to the total equity turnover volume and value respectively..
Overall, sixty-two (62) equities appreciated in price during the week lower than seventy-seven (77) equities in the previous week.
Thirty-five (35) equities depreciated in price higher than twenty-four (24) in the previous week, while fifty-nine (59) equities remained unchanged, higher than fifty-five (55) recorded in the previous week.
In line with stockbrokers’ expectations, the domestic market closed the week in the green, as NGX-ASI recorded a gain of 0.3% week on week. Consequently, market capitalization rose ₦1.8 trillion to ₦32.2tn, while year o date return improved mildly to 15.5% from 15.1%. #Nigerian Exchange Gains N1.8trn as 62 Tickers Rally#
