Investors have had a week of favourable trading days as there has been a gain of N182 billion in the market capitalization of the Nigerian Exchange Limited.
The Punch reported market capitalization at Friday’s close was N39.107 trillion, and the All-Share Index gained 264 basis points to complete the week at 71,112.99.
The NGX ASeM index closed flat, while all other indexes ended higher. The exceptions were the NGX Main Board, NGX Banking, NGX Industrial Goods, and NGX Sovereign Bond, which all had declines of 0.11 percent, 0.04 percent, 1.18 percent, and 0.27 percent, respectively.
Even though trading was positive during the week in question, there were only 2.025 billion shares worth N27.69 billion traded in 32,763 deals; this is less than the 2.525 billion shares worth N45.29 billion that were traded in 32,815 deals the week before.
Once more, the Financial Services Sector dominated the activity chart when it came to volume, trading 1.202 billion units of shares valued at N11.48 billion in 12,775 deals.
This sector contributed 41.46 percent and 59.38 percent, respectively, to the overall stock turnover value and volume. In 4,713 deals, the Oil and Gas Industry came in second with 328.656 million shares valued at N3.16 billion. The Services Industry came in third place with 2,263 deals totaling 131.249 million shares valued at N539.75 million.
During the week, Japual Gold and Venture Plc, Fidelity Bank Plc, and Jaiz Bank Plc were among the stocks that investors were most enthusiastic about. Based on volume, the three of them accounted for 3,136 deals totaling 488.181 million shares, valued at N1.97 billion.
This week’s trade saw 54 stocks rise above 37 stocks from the week before, 30 stocks fall short of 43 stocks from the week before, and 72 stocks stay the same, down from 75 stocks from the week before.
Top gainers are DEAP Capital Management and Trust Plc, which closed at N0.48 after gaining 54.84 percent; C&I Leasing, which closed at N4.98 per unit after 49.55 percent; MeCure Industries, which closed at N5.73 after 46.17 percent; Omatek, which closed at N0.87 per unit after 35.94 percent; and Northern Nigerian Flour Mills Plc gained 32.78 per cent to close at N23.90 per unit.
JapaulGold was on the decliners’ table; after plunging 14.14%, it closed at N1.70 per unit. Red Star Express Plc dropped 8.54% to close at N3 per unit, Mutual Benefits Assurance Plc lost 6.79% to close at N0.48, Beta Glass lost 9.92% to close at N54 per unit, and The Initiates Plc lost 9.80% to close at N0.92.
Ahead of the securities’ delisting from the exchange, NGX suspended trading in Union Bank of Nigeria Plc shares during the course of the week.