Nigerian Stock Exchange Extends Bullish Run as Investors Pocketed Another N4.303 Trillion Last Week

Stock investors continued to pack more monies from the Nigerian Exchange Limited (NGX) as the Exchange sustained its bullish run last week.

During the week, stock investors transacted a total turnover of 2.981 billion shares worth N57.873 billion in 67,962 deals against a total of 5.179 billion shares valued at N77.797 billion that exchanged hands in 79,012 deals in the previous week.

Breaking down activities for the week, the Financial Services Industry led the activity chart with 1.863 billion shares valued at N26.774 billion traded in 29,276 deals. Therefore, contributing 62.50% and 46.26% to the total equity turnover volume and value, respectively.

The Conglomerates Industry followed with 309.432 million shares worth N5.201 billion in 5,882 deals while in the third place was the Oil and Gas Industry with a turnover of 259.223 million shares worth N4.892 billion in 5,658 deals.

Transnational Corporation Plc, United Bank for Africa Plc and Sterling Financial Holdings Company Plc were the three most traded equities and accounted for a combined 686.291 million shares worth N12.943 billion that were transacted in 9,490 deals.

The three equities contributed 23.02% and 22.36% to the total equity turnover volume and value, respectively.

The NGX All-Share Index appreciated by 8.32% or 7,863.76 index points from 94,538.12 index points reported in the previous week to 102,401.88 index points.

Similarly, market capitalization grew by 8.32% or N4.303 trillion to close the week at N56.038 trillion, up from N51.735 trillion recorded in the previous week.

Similarly, all other indices finished higher with the exception of NGX Banking, NGX Insurance, NGX AFR Bank Value, NGX MERI Growth, NGX Growth and NGX Sovereign Bond which depreciated by 1.63%, 4.10%, 2.36%, 3.71%, 1.38%, and 0.68% respective while the NGX ASeM index closed flat.

Thirty-five equities appreciated in price during the week lower than eighty-one equities in the previous week. Sixty-five equities depreciated in price higher than fiftyeight in the previous week, while fifty-five equities remained unchanged, higher than sixteen recorded in the previous week.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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