Investors Gain N197bn In Week On 50,000 Jump In Benchmark Index
The performance of the Nigerian stock market was upbeat for the second consecutive week as investors maintained buying interests in some fundamental stocks, causing the benchmark index to cross the 50,000 basis points mark last seen on August 11 at 50,014.6 basis points.
As a result, the All-Share Index and market capitalisation rose marginally by 0.73 per cent week-on-week (WoW) to close at 50,045.83 basis points and N26.994 trillion respectively.
While the market Year-to-Date (YTD) return rose to 17.16 per cent, investors’ gain stood at N197 billion at close of week’s trading session on the back of the positive 3.54 per cent rise in Nigeria’ gross domestic product (GDP) in the second quarter of this, from the 3.11 per cent growth recorded in Q1.
On the back of the investors’ demand on sound and fundamental stocks, sectoral performance of the five indices tracked closed in the green zone.
The consumer goods index led the pack, rising by 2.01 per cent WoW to close at 603.38 basis points; industrial index followed by 1.36 per cent to 1,794.65 basis points; banking index appreciated by 1.21 per cent to 389.22 basis points; oil and gas index inched up by 0.65 per cent to 533.59 basis points; and insurance Index rose by 0.05 per cent to 180.79 basis points.
In its weekly market report, the Nigerian Exchange Limited (NGX) reported that a total turnover of 1.195 billion shares worth N12.924 billion in 19,305 deals was traded last week by investors, in contrast to a total of 914.443 million shares valued at N15.263 billion that exchanged hands the week before in 18,021 deals.
“The financial services industry, measured by volume, led the activity chart with 1.017 billion shares valued at N5.685 billion traded in 10,107 deals; thus contributing 85.09 per cent and 43.99 per cent to the total equity turnover volume and value respectively. The information and communications technology (ICT) Industry followed with 37.063 million shares worth N4.575 billion in 1,996 deals. The third place was the Consumer Goods Industry, with a turnover of 35.184 million shares worth N1.209 billion in 2,471 deals.
“Trading in the top three equities namely Sterling Bank Plc., Fidelity Bank Plc and Access Holdings Plc (measured by volume) accounted for 540.056 million shares worth N1.499 billion in 2,179 deals, contributing 45.18 per cent and 11.60 per cent to the total equity turnover volume and value respectively,” NGX stated.
A further look at the report shows that 43 equities appreciated in price in the review week, higher than 27 equities in the week before. While 21 equities depreciated in price lower than 38 in week before, 92 equities remained unchanged higher than 91 equities also recorded in the week before it.
Vitafoam Nigeria topped the gainers’ table, gaining N3.3 to close at N23.6. E-Tranzact International followed with 0.37k gain to close at N2.65; Fidelity Bank advanced 0.34k to N3.4; Guinness Nigeria saw N7.9 rise to N 87.9; and NGX printed N1.95 gain to N22.
On the contrary, Unilever Nigeria, McNichols, CWG, John Holt, and RT Briscoe Nigeria topped the losers’ table as their share prices lost N1.3 to N12.2; 0.07k to 0.67k; 0.09k to 0.9k; 0.08k to 0.81k; and 0.03k to 0.32k respectively.
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