KEY POINTS
- NGX All Share Index rose 0.92 per cent to 252,113.41 during the week.
- Market capitalisation increased by N1.498 trillion to N163.655 trillion.
- Equity turnover rose to 4.689 billion shares valued at N240.824 billion.
- Financial Services led trading activity with 3.537 billion shares.
MAIN STORY
Trading on the Nigerian Exchange Ltd. (NGX) ended the week higher, with the All Share Index and market capitalisation gaining 0.92 per cent.
The All Share Index closed at 252,113.41, up from 249,804.56 recorded at the end of the previous week.
Market capitalisation also increased to N163.655 trillion from N162.157 trillion, adding N1.498 trillion to the value of listed equities during the week.
Trading activity was also higher in terms of volume and value. Investors exchanged 4.689 billion shares worth N240.824 billion in 261,198 deals, compared with 3.249 billion shares valued at N237.986 billion in 287,919 deals recorded in the preceding week.
The Financial Services Industry dominated the market by volume, accounting for 3.537 billion shares valued at N116.666 billion across 115,985 deals. The sector represented 75.43 per cent of total equity turnover volume and 48.44 per cent of its value.
The ICT Industry ranked second, with 279.827 million shares worth N15.773 billion traded in 29,520 deals, while the Conglomerates Industry followed with 154.165 million shares valued at N6.621 billion in 4,540 deals.
Fidelity Bank Plc, Fortis Global Insurance Plc and Zenith Bank Plc were the three most traded equities during the week, with combined transactions of 2.020 billion shares worth N54.057 billion in 21,385 deals.
Their combined activity represented 43.08 per cent of total equity turnover volume and 22.45 per cent of turnover value.
Market breadth also improved, with 61 equities recording price gains compared with 52 in the previous week. Thirty two equities declined, unchanged from the preceding week, while 53 equities remained flat, compared with 63 previously.
Critical Minerals Financing Corp., Thomas Wyatt Nigeria Plc, UPDC Plc, Omatek Ventures Plc and Fortis Global Plc recorded the largest price increases, rising by N1.22, 65k, 75k, 28k and 35k, respectively.
Haldane McCall Plc, Champion Breweries Plc, TotalEnergies Marketing Nigeria Plc, Okomu Oil Palm Company Plc and Multiverse Mining and Exploration Plc led the decliners, with their prices falling by 60k, N1.30, N57.60, N141.80 and N2.10, respectively.
Despite the broad upward movement, three indices closed lower. The NGX Insurance, NGX Lotus II and NGX Sovereign Bond indices fell by 0.52 per cent, 0.13 per cent and 0.003 per cent, respectively.
THE ISSUES
- The N1.498 trillion increase in market capitalisation reflects the overall rise in the value of listed equities during the week, as the All Share Index also advanced by 0.92 per cent.
- Trading activity increased in share volume and value compared with the previous week, although the number of deals declined from 287,919 to 261,198.
- Financial Services remained the dominant sector in equity trading, contributing more than three quarters of total turnover volume and almost half of its value.
- Market breadth strengthened during the week, with 61 equities gaining against 32 decliners, while the number of unchanged stocks fell to 53.
WHAT’S NEXT
Trading on the NGX will continue with investors monitoring movements in listed equities and sector activity following the week’s gains.
BOTTOM LINE
The NGX ended the week with a 0.92 per cent rise in its All Share Index and a N1.498 trillion increase in market capitalisation. Higher trading volume, stronger market breadth and continued dominance by financial stocks characterised the week.
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