Trading on the floor of the Nigerian Exchange Group (NGX) closed the week on a bullish note on Friday after days of bearish sentiment towards equities.
The All-Share Index (ASI) and Market Capitalization rose by 0.61 percent to restore a dim of light on the NGX.
The ASI which opened at 38,808.01 basis point 38,571.89 basis point, closed at 38,808.01 basis point, gaining 236.12 index point, a 0.61 percent leapt.
The Equities Captilization appreciate by N123.57 billion or 0.61 percent to close at N20.310 trillion up from N20.186 trillion.
The increase of the market was majorly buoyed by rise in the share price of medium and low capitalized equities. Amongst which are; Chams Plc. UAC Property. Guinness Nigeria, PZ Cussons and Northern Nigerian Flour Mills Plc.
The market breadth was positive with 25 gainers and 11 losers, unlike 16 stocks that advanced while 27 dropped in value the previous day.
Chams Plc dominated the advanced stocks in percentage terms, rising by 10 percent to close at N0. 22 Kobo per share.
UAC property surged by 9.72 percent to close at N, 0. 79 Kobo per share, while Guinness Nigeria Plc appreciated by 9.26 percent to close at N31. 85 Kobo per share.
In the same vein, Northern Nigeria Flour Mills and PZ Cussons jumped 9.18 and 8.43 percent to close at N5. 35 Kobo and and N4. 50 Kobo per share respectively.
On the flip side, Japaul Gold Plc led the decliners in percentage parameters, falling by 10 percent to close at N0. 63 Kobo per share.
Sterling Bank dipped 9.76 percent to close at N1. 48 Kobo per share, while First City Monument Bank (FCMB) shed 8.90 percent to close at N2. 66 Kobo per share.
Also, Mutual Benefit Assurance Plc Plc and GlaxoSmithKline depreciated by 8.11 and 5.88 percent to close at N0. 34 Kobo and N6.40 Kobo per share.
In the overall trading for the week, the NGX All-Share Index and Market Capitalization depreciated by 0.15 percent and 0.12 percent respectively.
A total turnover of 1.263 billion shares worth N10.759 billion in 19,975 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 887.037 million shares valued at N9.193 billion that exchanged hands last week in 17,837 deals.
The Financial Services Industry (measured by volume) led the activity chart with 853.125million shares valued at N6.754 billion traded in 11,127 deals; thus contributing 67.56 percent and 62.78 percent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 103.226 million shares worth N704.563 million in 954 deals. The third place was Oil and Gas Industry, with a turnover of 89.472 million shares worth N353.533 million in 1,479
deals.
Trading in the top three equities namely Fidelity Bank Plc, FBN Holdings Plc and Access Bank Plc (measured by volume) accounted for 390.775 million shares worth N2.021 billion in 3,241deals, contributing 30.94 percent and 18.78 percent to the total equity turnover volume and value respectively
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