The equities market sustained its positive momentum last week, gaining N4.3 trillion Week-on-Week (WoW) on investors’ buy interest in Dangote Cement Plc.
As the market capitalisation gained N4.3 trillion to N56.038 trillion from N51.735 trillion when it opened for trading, the Nigerian Exchange Limited All-Share Index (NGX ASI) appreciated by 8.32 per cent or 7,863.76 basis points to close at 102,401.88 basis points.
The equities market hit an all-time high last week attributable to 28.82 per cent or N155.30 per share gain in Dangote Cement to N694.10 per share.
Dangote Cement this week gained about N491.11 billion in market capitalisation over Femi Otedola’s buy interest as its market capitalisation closed this week at N11.83 trillion.
All other indices finished higher except NGX Banking, NGX Insurance, NGX AFR Bank Value, NGX MERI Growth, NGX Growth, and NGX Sovereign Bond which depreciated by 1.63 percent, 4.10 percent, 2.36 percent, 3.71 percent, 1.38 percent, and 0.68 percent respectively while the NGX ASeM index closed flat.
The weekly market report disclosed that “A total turnover of 2.981 billion shares worth N57.873 billion in 67,962 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 5.179 billion shares valued at N77.797 billion that exchanged hands last week in 79,012 deals.
“The Financial Services Industry (measured by volume) led the activity chart with 1.863 billion shares valued at N26.774 billion traded in 29,276 deals; thus contributing 62.50 per cent and 46.26 per cent to the total equity turnover volume and value respectively.
“The Conglomerates Industry followed with 309.432 million shares worth N5.201 billion in 5,882 deals. The third place was the Oil and Gas Industry, with a turnover of 259.223 million shares worth N4.892 billion in 5,658 deals.
“Trading in the top three equities namely Transnational Corporation Plc, United Bank for Africa Plc, and Sterling Financial Holdings Company Plc (measured by volume) accounted for 686.291 million shares worth N12.943 billion in 9,490 deals, contributing 23.02 per cent and 22.36 percent to the total equity turnover volume and value respectively.”
The report said that a total of 77,804 units valued at N27.478 million were traded this week in 385 deals compared with a total of 100,213 units valued at N23.168 million transacted last week in 337 deals.
“A total of 98,426 units valued at N95.304 million were traded this week in 60 deals compared with 142,409 units valued at N140.309 million transacted last week in 39 deals,” the report revealed.
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