Julius Berger Plc, a construction firm listed on the Nigerian Exchange Group Plc, emerged as the top gainer for the week, recording a notable gain of 30.58% by the close of weekly trading.
This surge highlights the heightened demand for shares in the construction giant, resulting in a N27.200 billion increase in market capitalization, elevating its total valuation to N116.160 billion by the end of Friday’s trading session.
Among other notable gainers, Omatek Ventures Plc saw its shares rise by 23.08% to close at N0.80 per share from the week’s opening value of N0.65. Similarly, MTN Nigeria Plc witnessed a 20.96% increase to close trading at N267.80 per share from an opening figure of N221.40. Additionally, NEM Insurance Plc experienced a 20.91% increase, closing at N6.65 per share from the opening price of N5.50 per share.
The positive momentum in the market led to a 3.71% week-on-week gain, with the benchmark index settling at 105,085.25 points. Analysts attribute this upward trajectory to increasing demand for stocks listed on the NGX.
Overall, the NGX All-Share Index and Market Capitalization appreciated by 3.71%, closing the week at 105,085.25 and N59.416 trillion respectively. However, NGX Oil and Gas and NGX Sovereign Bond indices experienced marginal depreciations of 0.11% and 3.12% respectively.
During the week, investors traded a total turnover of 1.773 billion shares worth N52.867 billion in 44,713 deals. This marked a contrast from the previous week’s activity, which saw a total turnover of 2.157 billion shares valued at N108.824 billion in 51,556 deals.
Notable industries in terms of turnover included Conglomerates and Consumer Goods, with turnovers of 339.390 million shares worth N5.874 billion and 82.645 million shares worth N6.724 billion respectively.
The top three equities traded by volume were Transnational Corporation Plc, Guaranty Trust Holding Company Plc, and Access Holdings Plc, accounting for 677.439 million shares worth N17.287 billion in 7,789 deals. These equities contributed 38.21% and 32.70% to the total equity turnover volume and value respectively.
