Nigerian Stock Exchange Records N144 Billion Gain at the Close of Last Week

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Amazin Zion

Mar 1, 2023

Investors at the Nigerian Stock Exchange saw a net gain of N144 billion at the close of the market last week, which was attributed to the positive global sentiments that pushed investors across the markets.

Benchmark equities revealed that the Nigerian stock market witnessed an average return of 0.37% last week, equivalent to the net capital of N144 billion.

The All Share Index (ASI) finished last week at 71,112.99 points compared to the previous week, which was 70,849.38 points. The aggregate market value of all quoted equities rose from its opening value of N38.925 trillion to close at N39.108 trillion.

Total turnover at the NGX declined to 2.025 billion shares worth N27.693 billion in 32,763 deals last week compared to the previous week, with 2.525 billion shares valued at N45.297 billion traded in 32,815 deals two weeks back.

The Nation said that the financial services sector led the activity chart with 1.202 billion shares valued at N11.481 billion traded in 12,775 deals, thus contributing 59.38% and 41.46% to the total equity turnover volume and value, respectively. The oil and gas sector followed with 328.656 million shares worth N3.163 billion in 4,713 deals, while the services industry placed third with a turnover of 131.249 million shares worth N539.745 million in 2,263 deals.

Japual Gold and Venture Plc, Fidelity Bank Plc, and Jaiz Bank Plc were the most active stocks, accounting for 488.181 million shares worth N1.967 billion in 3,136 deals, and this represented 24.11% and 7.10% of the total equity turnover volume and value, respectively.

A total of 36,548 units of exchange-traded products valued at N4.610 million were traded in 95 deals, compared with 32,861 units valued at N4.458 million sold in 143 deals in the penultimate week.

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