Capital Market Goes Green Ahead Of 2022 Corporate Earnings

Capital Market Goes Green Ahead Of 2022 Corporate Earnings

The stock market segment of the Nigerian Exchange Limited (NGX) maintained its positive growth on the back of a surge buying interest from investors.

BizWatch Nigeria understands that the capital market went green ahead of the 2022 corporate earnings and actions from listed companies.

The NGX All-Share Index ended the week 0.16% week-on-week (W-o-W) higher to close at 52,594.68 basis points from 52,512.48 basis points it opened for trading.

Similarly, market capitalization rose by N45 billion W-o-W to close at N28.647 trillion from N28.602 trillion it closed for trading last week.

Performance across sectors was mixed as the NGX Insurance index recorded a weekly gain of 1.8%, while NGX Oil and Gas index rose by 0.4%. On the other hand, the NGX Banking index declined by 2.6% W-o-W.

NGX Industrial Goods index went down by 1.1%, while NGX Consumer Goods index shed 0.4% for the week.

The market breadth for the week was positive as 39 equities appreciated in price, 30 equities depreciated in price, while 88 equities remained unchanged.

Gainers and losers

International Energy Insurance led the gainers table by 28.95% to close at 49 kobo, per share. MRS Oil Nigeria followed with a gain of 13.48% to close at N16.00, while Nigerian Aviation Handling Company (NAHCO) went up by 12.86% to close to N7.90, per share.

On the other hand, Livestock Feeds led the decliners table by 13.85% to close at N1.12, per share. C&I Leasing followed with a loss of 10.00 % to close at N3.15, while UPDC declined by 9.62% to close at 94 kobo, per share.

Overall, a total turnover of 1.241 billion shares worth N15.668 billion in 18,560 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 1.286 billion shares valued at N29.634 billion that exchanged hands the previous week in 19,816 deals.

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