Nigerian Stock Index Rebounds, Appreciates by 0.40% Last Week

The Nigerian Exchange Limited (NGX) rebounded last week after two consecutive weeks of losses. The NGX All-Share Index grew by 0.40% or 187.94 index points from 47,140.48 index points recorded in the previous week to 47,328.42 index points last week.

Activity level was mixed during the week as investors exchanged 1.668 billion shares worth N19.481 billion in 25,979 deals, in contrast to a total of 1.713 billion shares valued at N30.764 billion that exchanged hands in 24,767 deals in the previous week.

The Financial Services Industry led the activity chart with 1.120 billion shares valued at N10.889 billion traded in 13,514 deals. Therefore, contributed 67.13% and 55.89% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 242.945 million shares worth N395.228 million in 1,418 deals.

In third place was The Consumer Goods Industry, with a turnover of 80.368 million shares worth N1.958 billion in 3,876 deals.

Transnational Corporation of Nigeria Plc, United Capital Plc and Zenith Bank Plc were the three most traded equities during the week. The three accounted for a combined 491.673 million shares valued at N5.411 billion in 4,277 deals and contributed 29.48% and 27.78% to the total equity turnover volume and value, respectively.

The market value of listed equities appreciated by N101 billion or 0.40% from N25.406 trillion to N25.507 trillion last week.

Similarly, all other indices finished higher with the exception of NGX Asem, NGX Meri Value, NGX consumer Goods, NGX Lotus II, NGX Industrial Goods and NGX Sovereign bond indices which depreciated by 1.17%, 0.34%, 1.06%, 0.07%, 0.01% and 0.02% respectively while the NGX Growth Index closed flat.

Forty-four equities appreciated in price during the week, higher than Forty-three equities in the previous week. Twenty-two equities depreciated in price, lower than Thirty-eight equities in the previous week, while Ninety equities remained unchanged higher than Seventyfive equities recorded in the previous week.

The year-to-date return improves to 10.80% last week. See below for the details of top gainers and losers.