Stock Investors Gained N646 Billion Last Week

Investors in the Nigerian stock market gained N646 billion last week on the back of renewed interest in the Nigerian Exchange Limited (NGX).

During the week, investors exchanged 1.471 billion shares worth N20.941 billion in 20,410 deals against a total of 1.428 billion shares valued at N12.373 billion that exchanged hands in 23,987 transactions in the previous week.

In terms of volume traded, the Financial Services Industry led the activity chart with 996.555 million shares valued at N10.279 billion traded in 10,565 deals. Therefore, it contributed 67.74 percent and 49.09 percent to the total equity turnover volume and value, respectively.

The Conglomerates Industry followed with 203.251 million shares worth N1.204 billion in 834 deals. In third place was Consumer Goods Industry, with a turnover of 105.410 million shares worth N3.217 billion in 2,789 deals.

FBN Holdings Plc, Sterling Bank Plc and UACN Plc were the three most traded equities for the week. The three accounted for 519.011 million shares worth N4.057 billion in 1,787 deals, contributing 35.28 percent and 19.37 percent to the total equity turnover volume and value, respectively.

The NGX All-Share Index appreciated by 2.95 percent or 1,238.51 index points from 42,014.50 index points recorded in the previous week to 43,253.01 index points last week.

Market value of listed equities gained N646 billion from N21.926 trillion achieved in the previous week to N22.572 trillion last week.

Similarly, all other indices finished higher with the exception of NGX Banking, NGX Insurance, NGX-AFR Bank Value, NGX AFR Div Yield, NGX MERI Growth, NGX Oil/Gas and NGX Industrial Goods indices which depreciated by 1.13 percent, 2.25 percent, 1.83 percent, 0.44 percent, 0.80 percent, 0.69 percent and 0.01 percent, respectively. While the NGX ASeM, NGX Growth and NGX Sovereign Bond Indices closed flat.

Twenty-seven equities appreciated in price during the week, higher than Twenty-three equities in the previous week. Thirty-six equities depreciated in price, lower than Forty-three equities in the previous week, while ninety-three equities remained unchanged higher than ninety equities recorded in the previous week.

The market year-to-date return moderated to 7.41 percent.