Equity market gains N121bn in one week

The Nigerian equity market gained N121bn last week, with the All-Share Index appreciating by 0.21 per cent to close at 98,458.68 points, while market capitalisation reached N56.578tn.

A total turnover of 3.318bn shares, valued at N45.911bn, was traded across 49,243 deals during the week, marking a significant increase compared to the previous week’s 1.860bn shares worth N38.445bn, exchanged in 40,228 deals.

The Financial Services Industry, measured by volume, led the activity chart with 1.430bn shares valued at N23.659bn traded in 22,745 deals, contributing 43.09 per cent and 51.53 per cent to the total equity turnover volume and value, respectively. Following closely was the Oil and Gas Industry, which saw 703.389 million shares worth N7.323bn exchanged in 6,207 deals. The Healthcare Industry ranked third, with a turnover of 411.489 million shares valued at N2.896bn in 827 deals.

Trading in the top three equities by volume — Japaul Gold & Ventures Plc, Mecure Industries Plc, and Fidelity Bank Plc —accounted for a total of 1.363bn shares worth N9.472bn in 4,050 deals, representing 41.06 per cent of the total equity turnover volume and 20.63 per cent of the value.

On 23 September, 10,671 deals involving 810.429 million shares worth N8.293bn were traded, with 32 stocks advancing, 20 declining, and 72 remaining unchanged. On 24 September, 12,081 deals saw 763 million shares valued at N11.780bn, resulting in 35 advancing stocks, 22 decliners, and 64 unchanged. On 25 September, 9,723 deals recorded 603.301 million shares worth N12.575bn, with 31 advancing stocks, 24 decliners, and 66 unchanged.

On 26 September, 9,005 deals involved 344.355 million shares valued at N6.609bn, with 29 advancing, 26 declining, and 65 unchanged. On 27 September, 7,763 deals were made with 797.214 million shares worth N6.652bn, with 21 advancing stocks, 26 decliners, and 76 unchanged.

Additionally, a total of 92,630 units valued at N42.253m were traded in 135 deals for Exchange-Traded Products, compared to 146,162 units valued at N14.736m recorded the previous week in 151 deals.

Forty-five equities appreciated during the week, an increase from 41 in the previous week. Meanwhile, 33 equities depreciated, down from 40 in the prior week, while 73 equities remained unchanged, up from 70 in the preceding week.

PUNCH reports that despite the Eid el-Maulud holiday on Monday, the Nigerian equity market gained N455bn last week. The NGX All-Share Index and market capitalisation appreciated by 0.81 per cent to close the week at 98,247.99 points and N56.457tn, respectively.