BankingEconomy

51 firms drive stock market gain by N500bn

Investors gained N500bn 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 Friday (Good Friday) and Monday (Easter Monday) public holidays to commemorate the 2022 Easter celebrations.

The NGX All-Share Index and market capitalisation of equities listed on the NGX appreciated by 1.99 per cent to close at 47,558.45 and N25.639tn last week.

Similarly, all other indices finished higher with the exception of NGX Asem, NGX Growth and Sovereign Bond indices which closed flat.

According to the NGX, 51 equities appreciated in price during the week, higher than 33 equities in the previous week.

Eighteen equities depreciated in price, lower than 31 stocks in the previous week. Eighty-seven equities remained unchanged, lower than 92 stocks recorded in the previous week.

The NGX weekly market report showed that a total turnover of 1.247 billion shares worth N22.372bn in 23,406 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.137 billion shares valued at N10.812bn that exchanged hands last week in 23,471 deals.

The financial services industry (measured by volume) led the activity chart with 975.776 million shares valued at N10.678bn traded in 13,097 deals, thus contributing 78.24 per cent and 47.73 per cent to the total equity turnover volume and value respectively.

The consumer goods industry followed with 65.187 million shares worth N1.752bn in 2,725 deals. The third place was the services industry, with a turnover of 42.614 million shares worth 135.745 million in 1,172 deals.

Trading in the top three equities, namely Guaranty Trust Holding Company Plc, Zenith Bank Plc and Fidelity Bank Plc (measured by volume) accounted for 429.657 million shares worth N7.786bn in 5,871 deals, contributing 34.45 per cent and 34.80 per cent to the total equity turnover volume and value respectively.

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