Nigerian Exchange Limited
Dangote Sugar, Others Propel Nigerian Stock Market to N77bn Gain Last Week
All-Share Index Rises by 0.22% as Equities Soar in Key Sectors; Financial Services Industry Remains Dominant on the Exchange
The Nigerian Exchange Limited (NGX) closed in the green last week as stocks of Dangote Sugar Refinery Plc, Glaxo Smithkline Consumer Nigeria Plc, and Nigerian Breweries bolstered All-Share Index by 0.22% to 65,198.08 index points.
The All-Share Index rose from 65,056.39 index points recorded in the previous week while the year-to-date returns inched higher to 27.10% to reinforce investor confidence in the Nigerian stock market.
This remarkable rally resulted in a staggering N80 billion gain for investors from N35.4 trillion recorded in the previous week to N35.48 trillion last week.
Similarly, all other indices finished higher with the exception of NGX Main Board, NGX CG, NGX Banking, NGX AFR Bank Value, NGX MERI Growth, NGX MERI Value and NGX Oil and Gas indices which depreciated by 0.07%, 0.06% 2.13%, 1.85%, 2.43%, 0.78%, and 0.68% respectively while the NGX ASeM index closed flat
Investors traded a total of 2.575 billion shares worth N29.615 billion in 37,713 deals during the week, against a total of 2.854 billion shares valued at N37.645 billion that exchanged hands in 41,547 deals in the previous week.
A further breakdown shows that the Financial Services Industry led the activity chart with 1.921 billion shares valued at N16.514 billion traded in 17,689 deals. Therefore, contributed 74.60% and 55.76% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 160.206 million shares worth N625.021 million in 1,811 deals.
In third place was the Oil and Gas Industry, with a turnover of 152.046 million shares worth N1.332 billion in 2,403 deals.
AIICO Insurance Plc, FCMB Group Plc and Transnational Corporation Plc were the three most traded equities during the week. The three accounted for a combined 636.217 million shares worth N1.737 billion that exchanged hands in 2,751 deals and contributed 24.71% and 5.86% to the total equity turnover volume and value, respectively.
Forty-two equities appreciated in price during the week higher than thirty-nine equities in the previous week. Fifty-two equities depreciated in price lower than fifty-four in the previous week, while sixty-one equities remained unchanged, lower than sixty-two recorded in the previous week.
