Banking, Insurance Stocks Power NGX To Weekly Gain

• The Nigerian Exchange closed the week higher, with the All-Share Index rising 2.36% and market capitalisation increasing to N106.35 trillion
• Financial Services stocks dominated trading activity, accounting for 67.84% of total turnover by volume, with Sovereign Trust Insurance, Access Holdings, and Linkage Assurance among the most traded equities
• Market breadth remained positive as 80 equities advanced, while Ikeja Hotel, Austin Laz, and Eterna led the decliners

A total turnover of 4.607 billion shares valued at N130.636 billion in 263,439 deals was recorded on the floor of the Nigerian Exchange (NGX) during the week, compared with 4.164 billion shares worth N94.026 billion traded in 248,254 deals in the previous week.

The Financial Services industry, measured by volume, led trading activity, with 3.126 billion shares valued at N47.225 billion exchanged in 94,186 deals. The sector accounted for 67.84% of total equity turnover volume and 36.15% of total value.

The Services industry followed, recording 353.436 million shares worth N5.096 billion traded in 17,764 deals. The ICT industry ranked third, with a turnover of 277.263 million shares valued at N18.009 billion in 28,525 deals.

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Trading in the top three equities by volume—Sovereign Trust Insurance Plc, Access Holdings Plc, and Linkage Assurance Plc—accounted for 1.406 billion shares worth N9.735 billion in 11,732 deals, representing 30.52% of total volume and 7.45% of total value.

The NGX All-Share Index and market capitalization appreciated by 2.36% and 2.48% respectively, closing the week at 166,129.50 points and N106.354 trillion.

All other sectoral indices closed higher during the week, except the NGX AFR Dividend Yield Index, which declined by 0.15%.

Market breadth remained positive, though slightly weaker than the previous week. Eighty equities recorded price appreciation, compared with 84 in the prior week. Seventeen equities declined, down from 22 previously, while 50 equities closed unchanged, higher than the 42 recorded the previous week.

Top price gainers

• NCR (Nigeria) Plc: N79.95 to N128.55 (+N48.60, 60.79%)
• SCOA Nigeria Plc: N9.35 to N14.90 (+N5.55, 59.36%)
• DEAP Capital Management & Trust Plc: N3.00 to N4.46 (+N1.46, 48.67%)
• Jaiz Bank Plc: N5.62 to N8.19 (+N2.57, 45.73%)
• Omatek Ventures Plc: N1.28 to N1.77 (+N0.49, 38.28%)
• Red Star Express Plc: N10.50 to N13.20 (+N2.70, 25.71%)
• UPDC Plc: N5.00 to N6.20 (+N1.20, 24.00%)
• E-Tranzact International Plc: N15.00 to N18.35 (+N3.35, 22.33%)
• Secure Electronic Technology Plc: N0.89 to N1.08 (+N0.19, 21.35%)
• Multiverse Mining and Exploration Plc: N23.40 to N28.25 (+N4.85, 20.73%)

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Top price decliners

• Ikeja Hotel Plc: N40.00 to N35.05 (-N4.95, -12.38%)
• Austin Laz & Company Plc: N4.13 to N3.75 (-N0.38, -9.20%)
• Eterna Plc: N35.00 to N32.30 (-N2.70, -7.71%)
• Universal Insurance Plc: N1.30 to N1.20 (-N0.10, -7.69%)
• Eunisell Interlinked Plc: N169.80 to N156.95 (-N12.85, -7.57%)
• Lasaco Assurance Plc: N2.68 to N2.50 (-N0.18, -6.72%)
• Cornerstone Insurance Plc: N6.74 to N6.35 (-N0.39, -5.79%)
• Sunu Assurances Nigeria Plc: N5.05 to N4.77 (-N0.28, -5.54%)
• Fidson Healthcare Plc: N73.10 to N70.00 (-N3.10, -4.24%)
• Nascon Allied Industries Plc: N120.00 to N115.00 (-N5.00, -4.17%)

Source: Legit.ng