Stock market gains N49bn in one week

Nigeria’s equities market value increased by N49 billion at the close of this week’s trading on Friday, October 11, 2024.

The NGX All-Share Index and Market Capitalization appreciated by 0.09% to close the week at 97,606.63 and N56.088 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX Main Board, NGX AFR Bank Value, NGX Consumer Goods, NGX Lotus II and NGX Industrial Goods which depreciated 0.28%, 1.12%, 1.25%, 0.16% and 0.13% respectively while the NGX ASeM and NGX Sovereign Bond indices closed flat.

According to the NGX, 29 equities appreciated in price during the week lower 45 equities in the previous week.

Fifty-two equities depreciated in price higher than 33 in the previous week, while 70 equities remained unchanged, lower than 73 recorded in the previous week.

The NGX market report obtained by Dailyeconomy showed that total turnover of 2.966 billion shares worth N31.508 billion in 42,482 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.872 billion shares valued at N132.811 billion that exchanged hands last week in 39,867 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.485 billion shares valued at N17.965 billion traded in 19,613 deals; thus contributing 50.05% and 57.02% to the total equity turnover volume and value respectively.

The Services Industry followed with 1.108 billion shares worth N775.258 million in 2,675 deals. Third place was the Agriculture Industry, with a turnover of 93.904 million shares worth N1.250 billion in 2,517 deals.

Trading in the top three equities namely Tantalizer Plc, Coronation Insurance Plc and Fidelity Bank Plc (measured by volume) accounted for 1.625 billion shares worth N3.908 billion in 1,814 deals, contributing 54.80% and 12.40% to the total equity turnover volume and value respectively.