Local stock market closed week bullish by 0.63%

Equities trading at the Nigerian Exchange Limited (NGX) was bullish last week as the benchmark increased by 0.63 per cent in five days, following 0.59 per cent decline recorded in the previous week.

Equities investors, therefore, earned N168 billion as the market capitalization settled at N26.797 trillion as against a previous weekly close of N26.629 trillion. This positive weekly trade brings the month-to-date performance of the Nigerian stock market to -1.37 per cent and a year-to-date gain of 16.31 per cent.

Positive sentiments were shed abroad as the market breath was bullish with gainers outnumbering losers. 27 equities appreciated in price during the week under review, higher than 21 equities in the previous week. 38 equities depreciated in price lower than 41 in the previous week, while 91 equities remained unchanged lower than 94 equities recorded in the previous week

Sectoral analysis indicates that all other indices finished lower with the exception of NGX-Main Board, NGX 30 Index, NGX Insurance Index, NGX-AFR Bank Value and NGX Lotus II Indices which appreciated by 2.56 per cent, 0.48 per cent, 3.88 per cent, 0.07 per cent and 0.11 per cent while The NGX ASeM and Growth indices closed flat.

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A total turnover of 914.443 million shares worth N15.263 billion in 18,021 deals was traded during the week by investors on the floor of the Exchange, in contrast to a total of 823.005 million shares valued at N12.228 billion that exchanged hands last week in 17,482 deals.

The Financial Services Industry, measured by volume, led the activity chart with 723.125 million shares valued at N5.209 billion traded in 9,122 deals; thus contributing 79.08 per cent and 34.13 per cent to the total equity turnover volume and value respectively. The Consumer Goods followed with 51.097 million shares worth N4.668 billion in 2,610 deals. The third place was the Conglomerates Industry, with a turnover of 36.089 million shares worth N72.383 million in 527 deals.

Trading in the top three equities namely Mutual Benefits Assurance Plc, FBN Holdings Plc and Access Holdings Plc, measured by volume, accounted for 325.818 million shares worth N1.758 billion in 1,897 deals, contributing 35.63 per cent and 11.52 per cent to the total equity turnover volume and value respectively.

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Local stock market closed week bullish by 0.63%

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Local stock market closed week bullish by 0.63%

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