Stock Investors Gained N1.672 Billion Last Week

Despite growing economic uncertainties and rising inflation rate in Nigeria, stock investors pocketed N1.672 billion in gains last week.

During the week, investors traded a total of 2.451 billion shares worth N40.570 billion in 37,959 deals, against a total of 1.446 billion shares valued at N25.418 billion that exchanged hands in 28,933 deals in the previous week.

The Financial Services Industry led the activity chart with 1.480 billion shares valued at N21.160 billion traded in 16,671 deals. Therefore, contributing 60.39% and 52.16% to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with 354.911 million shares worth N1.214 billion in 2,917 deals.

The third place was the ICT Industry, with a turnover of 175.216 million shares worth N8.218 billion in 3,759 deals.

Japual Gold & Ventures Plc, United Bank for Africa Plc and Fidelity Bank Plc were the most traded equities during the week under review. Together, the three equities accounted for 835.584 million shares worth N8.631 billion in 5,514 deals and contributed 34.09% and 21.27% to the total equity turnover volume and value, respectively.

The NGX All-Share Index appreciated by 4.56% to close the week at 70,196.77 index points, up from 67,136.58 index points recorded in the previous week while the market value of all shares grew by N1.672 billion to N36.885 trillion from N38.557 trillion.

Similarly, all other indices finished higher while the NGX ASeM and NGX Oil and Gas indices
closed flat.

Sixty-three equities appreciated in price during the week higher than thirty-nine equities in the previous week. Twenty-nine equities depreciated in lower than fortytwo in the previous week, while sixty-four equities remained unchanged, lower than seventy-six recorded in the previous week.