Equities Market Remains Bullish As Investors Gain N486bn
Stock Investors gained N486bn at the end of trading on the floor of the Nigerian Exchange Limited last week.
The market opened for four trading days last week as the Federal Government of Nigeria declared Monday a public holiday to commemorate the 2022 Easter celebrations.
The NGX All-Share Index and market capitalisation of equities listed on the NGX appreciated by two per cent to close at 48,459.65 and N26.125tn last week.
Similarly, all other indices finished higher with the exception of NGX Insurance, which depreciated at 0.05 per cent, while NGX Asem, NGX Afr. bank value and NGX Growth indices closed flat.
According to the NGX, 50 equities appreciated in price during the week, lower than 51 equities in the previous week.
Twenty-nine equities depreciated in price, higher than 18 equities in the previous week, while 77 equities remained unchanged, lower than 87 equities recorded in the previous week.
The NGX weekly market report showed that a total turnover of 1.302 billion shares worth N17.813bn in 20,212 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.247 billion shares valued at N22.372bn that exchanged hands in previous week in 23,406 deals.
The Financial Services Industry (measured by volume) led the activity chart with 836.781million shares valued at N6.007bn traded in 9,527 deals, thus contributing 64.28 per cent and 33.72 per cent to the total equity turnover volume and value respectively.
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The oil and gas industry followed with 86.909 million shares worth N1.243bn in 1,770 deals. The third place was the consumer goods industry, with a turnover of 86.286 million shares worth N2.225bn in 3,056 deals.
Trading in the top three equities, namely Fidelity Bank Plc, Zenith Bank Plc and Universal Insurance Plc (measured by volume) accounted for 279.507 million shares worth N2.627bn in 2,504 deals, contributing 21.47 per cent and 14.75 per cent to the total equity turnover volume and value respectively.
