Equity Market Soars as Investors Gain N1.14tn in One Week
The Nigerian equity market recorded a strong performance last week as investors gained approximately N1.14 trillion, driven by bullish sentiments on the Nigerian Exchange Limited (NGX).
Key Highlights:
1. Market Performance
• All-Share Index (ASI): Increased by 1.80%, closing at 105,451.06 points.
• Market Capitalisation: Rose to N64.303 trillion, reflecting the robust activity.
2. Trading Activity
• Total turnover: 4.698 billion shares worth N85.043 billion exchanged in 72,562 deals.
• Previous week: 2.618 billion shares valued at N69.742 billion in 47,953 deals, showcasing a significant rise.
3. Sector Contributions
• Financial Services Industry:
• Dominated trading with 3.470 billion shares worth N40.791 billion in 34,364 deals.
• Accounted for 73.86% of total volume and 47.97% of value.
• Services Industry: Recorded 407.032 million shares worth N2.226 billion in 4,996 deals.
• ICT Industry: Traded 237.680 million shares valued at N3.628 billion in 5,280 deals.
4. Top Traded Stocks
• Wema Bank Plc, FBN Holdings Plc, and Universal Insurance Plc:
• Combined trading volume: 1.679 billion shares valued at N20.838 billion in 4,922 deals.
• Contributed 35.74% of the total equity turnover volume and 24.50% of the total value.
Price Performance
• Top Gainers:
• Multiverse Mining and Exploration Plc: Gained 53.42%, closing at N12.35 from N8.05.
• Honeywell Flour Mill Plc: Increased by 31.67%, closing at N10.02.
• Daar Communications Plc: Rose by 25.71% to N0.88.
• Top Decliners:
• SUNU Assurances Nigeria Plc: Declined by 36.52%, closing at N7.30 from N11.50.
• Caverton Offshore Support Group Plc: Fell by 15%, ending at N2.38.
• Consolidated Hallmark Holdings Plc: Dropped by 15%, closing at N3.40.
Market Trends and Outlook
The NGX recorded notable gains on Thursday, with the ASI advancing by 1.25%, closing at 105,530.74 points. Market capitalisation also surged by N793 billion, concluding at N64.351 trillion.
In contrast, global markets showed mixed reactions amid inflationary pressures and central bank policy shifts. The U.S. market experienced declines due to economic uncertainties and job data.
Stay tuned for more insights on market trends and performance updates.
The Nigerian equity market recorded a strong performance last week as investors gained approximately N1.14 trillion, driven by bullish sentiments on the Nigerian Exchange Limited (NGX).
Key Highlights:
1. Market Performance
• All-Share Index (ASI): Increased by 1.80%, closing at 105,451.06 points.
• Market Capitalisation: Rose to N64.303 trillion, reflecting the robust activity.
2. Trading Activity
• Total turnover: 4.698 billion shares worth N85.043 billion exchanged in 72,562 deals.
• Previous week: 2.618 billion shares valued at N69.742 billion in 47,953 deals, showcasing a significant rise.
3. Sector Contributions
• Financial Services Industry:
• Dominated trading with 3.470 billion shares worth N40.791 billion in 34,364 deals.
• Accounted for 73.86% of total volume and 47.97% of value.
• Services Industry: Recorded 407.032 million shares worth N2.226 billion in 4,996 deals.
• ICT Industry: Traded 237.680 million shares valued at N3.628 billion in 5,280 deals.
4. Top Traded Stocks
• Wema Bank Plc, FBN Holdings Plc, and Universal Insurance Plc:
• Combined trading volume: 1.679 billion shares valued at N20.838 billion in 4,922 deals.
• Contributed 35.74% of the total equity turnover volume and 24.50% of the total value.
Price Performance
• Top Gainers:
• Multiverse Mining and Exploration Plc: Gained 53.42%, closing at N12.35 from N8.05.
• Honeywell Flour Mill Plc: Increased by 31.67%, closing at N10.02.
• Daar Communications Plc: Rose by 25.71% to N0.88.
• Top Decliners:
• SUNU Assurances Nigeria Plc: Declined by 36.52%, closing at N7.30 from N11.50.
• Caverton Offshore Support Group Plc: Fell by 15%, ending at N2.38.
• Consolidated Hallmark Holdings Plc: Dropped by 15%, closing at N3.40.
Market Trends and Outlook
The NGX recorded notable gains on Thursday, with the ASI advancing by 1.25%, closing at 105,530.74 points. Market capitalisation also surged by N793 billion, concluding at N64.351 trillion.
In contrast, global markets showed mixed reactions amid inflationary pressures and central bank policy shifts. The U.S. market experienced declines due to economic uncertainties and job data.
Stay tuned for more insights on market trends and performance updates.