NGX Investors Make N182bn In One Week

Stock Exchange Closes Trading Week With N30bn Gain

After several days of strong activity, the Nigerian Exchange Limited’s market capitalization increased by N182 billion last week. The market capitalization at Friday’s close was N39.107 trillion, and the All-Share Index gained 264 basis points to complete the week at 71,112.99.

The NGX ASeM index closed flat, while all other indexes ended higher. The exceptions were the NGX Main Board, NGX Banking, NGX Industrial Goods, and NGX Sovereign Bond, which all had declines of 0.11 percent, 0.04 percent, 1.18 percent, and 0.27 percent, respectively.

Even while trading was favorable during the week in question, 32,763 trades saw the exchange of 2.025 billion shares for N27.69 billion, which is less than 2.525 billion units of shares worth N45.29bn that exchanged hands in the previous week 32,815 deals.

Once more, the Financial Services Sector dominated the activity chart when it came to volume, trading 1.202 billion units of shares valued at N11.48 billion in 12,775 deals. This sector contributed 41.46 percent and 59.38 percent, respectively, to the overall stock turnover value and volume. In 4,713 trades, the Oil and Gas Industry came in second with 328.656 million shares valued at N3.16 billion. The Services Industry came in third place with 2,263 trades totaling 131.249 million shares valued at N539.75 million.

During the week, Japual Gold and Venture Plc, Fidelity Bank Plc, and Jaiz Bank Plc were among the stocks that investors were most enthusiastic about. Based on volume, the three of them accounted for 3,136 trades totaling 488.181 million shares, valued at N1.97 billion.

In the trading week, 54 equities appreciated higher than 37 equities in the previous week while 30 equities depreciated lower than 43 in the previous week and 72 equities remained unchanged, lower than 75 recorded in the previous week.

Top gainers include DEAP Capital Management and Trust Plc which gained 54.84 per cent to close at N0.48, C&I Leasing gained 49.55 per cent to close at N4.98 per unit, MeCure Industries gained 46.17 per cent to N5.73, Omatek gained 35.94 per cent to close N0.87 per unit and Northern Nigerian Flour Mills Plc gained 32.78 per cent to close at N23.90 per unit.

On the decliners’ table were JapaulGold, which closed priced at N1.70 per unit after it dipped by 14.14 per cent. Beta glass lost 9.92 per cent to close at N54 per unit, The Initiates Plc lost 9.80 per cent to close at N0.92, Red Star Express Plc lost 8.54 per cent to close at N3 per unit and Mutual Benefits Assurance Plc lost 7.69 per cent to close at N0.48.

During the week, NGX suspended trading in the shares of Union Bank of Nigeria Plc ahead of the delisting of the securities from the exchange.

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