Stock Investors Realised N579 Billion Last Week

Investors in the Nigerian stock market saw their portfolio rise by N579 billion last week as the Nigerian Exchange Limited (NGX) market capitalisation appreciated by 2.33 percent to push the year-to-date return to 10.68 percent.

Activity at the Exchange rose during the week as 1.785 billion shares worth N19.614 billion were exchanged in 27,822 deals, against a total of 1.448 billion shares valued at N19,080 billion that exchanged hands in 22,557 deals in the previous week.

The Financial Services Industry led the activity chart with 1.094 billion shares valued at N10.506 billion traded in 13,580 deals, therefore, contributing 61.29 percent and 53.56 percent to the total equity turnover volume and value, respectively.

The Conglomerates Industry followed with 144.172 million shares worth N253.262 million in 1,077 deals while the ICT Industry came third with a turnover of 122.193 million shares worth N1.719 billion in 1,661 deals.

Fidelity Bank Plc, Transnational Corporation Of Nigeria Plc, Guaranty Trust Holding Company Plc, were the three most traded stocks and accounted for a combined 415.095 million shares worth N3.205 billion traded in 3,556 deals. The three equities contributed 23.25 percent and 16.34 percent to the total equity turnover volume and value, respectively.

The market value of listed equities rose by 2.33 percent or N579 Billion to N25.477 trillion. The NGX All-Share Index also gained 2.33 percent or 1,074.87 index points 46,205.05 index points from the previous week to 47,279.92 index points last week.

Similarly, all other indices finished higher with the exception of NGX Insurance and NGX Consumer Goods indices, which depreciated by 1.93 percent and 0.81 percent while the NGX ASem, and NGX Sovereign bond indices closed flat.

Forty-two equities appreciated at price during the week, lower than Forty-forty equities in the previous week. Thirty-five equities depreciated in price, higher than Thirty-three equities in the previous week, while Seventy-nine equities remained unchanged same as Seventy-nine equities recorded in the previous week.