Stock Investors Gained N656 Billion Last week as Dangote Cement, Others Closed in the Green

The Nigerian Exchange Limited (NGX) rebounded last week to close in the green as stocks of University Press, Dangote Cement, Presco and others sustained the Exchange amid growing positive sentiment.

In the four trading days week, due to the Federal Government declared Public Holiday on October 1, 2021 to mark the Nation’s 61st Independence Anniversary, investors exchanged 2.187 billion shares worth N16.183 billion in 14,377 deals last week, in contrast to a total of 1.290 billion shares valued at N13.921 billion that exchanged hands in 16,745 transactions last week.

The Financial Services Industry led the activity chart with 778.434 million shares valued at N5.591 billion traded in 7,183 deals, therefore, it contributed 35.60 percent and 34.55 percent to the total equity turnover volume and value, respectively. The Services Industry followed with 775.712 million shares worth N2.909 billion in 416 deals. The third place was Consumer Goods Industry, with a turnover of 448.662 million shares worth N3.999 billion in 2,257 deals.

Transcorp Hotels Plc, Honeywell Flour Mill Plc and FBN Holdings Plc were the three most traded stocks and accounted for a combined 1.494 billion shares worth N6.944 billion in 1,017 transactions and contributed 68.33 percent and 42.91 percent to the total equity turnover volume and value, respectively.

The NGX All-Share Index appreciated by 1,258.89 index points or 3.23 percent from 38,962.28 index points in the previous week to close at 40,221.17 index points last week. While the market value expanded by 3.57 percent or N656 billion to settle at N20.956 trillion last week, up from N20.300 trillion recorded in the previous week.

Similarly, all other indices finished higher with the exception of NGX Insurance index that depreciated by 7.58 percent, while the NGX ASeM and NGX Growth Indices closed flat.