Weekly Review: Nigerian Stock Market Closes Positive
- Stock market ended the week on a positive note as investors focused on Financial Services and ICT stocks.
- In the last trading day, Chams Holding Company Plc, Access Holdings Plc, and Universal Insurance Plc led the gainers table.
- The losers’ table included DEAP Capital Management & Trust Plc, UH Real Estate Investment Trust, Red Star Express Plc, and UPDC Real Estate Investment Trust.
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and market trends.
The Nigerian stock market closed the week higher, gaining 3.84% as strong buying interest in Financial Services and ICT stocks lifted the market.
At the close of trading for the week ended Friday, February 7, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose to 171,727.49 points from 165,171.32 points the previous week.
Source: Getty Images
Market capitaliSation also increased by N4.13 trillion to N110.235 trillion, compared with N106.104 trillion the week before.
Breakdown of performance by sector
The Financial Services sector led trading activity, recording 2.188 billion shares valued at N50.459 billion in 94,005 deals, contributing 56.68% of total turnover volume and 39.24% of total value.
The Services sector followed with 466.771 million shares worth N4.495 billion in 18,526 deals, while the ICT sector recorded 377.800 million shares valued at N9.049 billion in 25,653 deals. The NGX Insurance Index was the only sector to decline, falling 2.33%.
Here is a snapshot of the market on Friday A total of 3.860 billion shares worth N128.581 billion were exchanged in 240,463 deals during the week.
Trading in the top three equities by volume Chams Holding Company Plc, Access Holdings Plc, and Universal Insurance Plc accounted for 664.942 million shares worth N6.801 billion in 15,161 deals, representing 17.23% of total volume and 5.29% of total value.
Top 10 gainers:
- R T Briscoe Plc: N7.86 to N12.63 (+N4.77, 60.69%)
- Zichis Agro Allied Industries Plc: N4.19 to N6.72 (+N2.53, 60.38%)
- Abbey Mortgage Bank Plc: N9.40 to N14.95 (+N5.55, 59.04%)
- Union Dicon Salt Plc: N8.75 to N13.05 (+N4.30, 49.14%)
- Austin Laz & Company Plc: N3.90 to N5.40 (+N1.50, 38.46%)
- Daar Communications Plc: N1.41 to N1.90 (+N0.49, 34.75%)
- The Initiates Plc: N14.95 to N19.45 (+N4.50, 30.10%)
- Fortis Global Insurance Plc: N0.20 to N0.26 (+N0.06, 30.00%)
- Livingtrust Mortgage Bank Plc: N4.05 to N5.14 (+N1.09, 26.91%)
- Julius Berger Nig. Plc: N182.00 to N230.80 (+N48.80, 26.81%)
Source: Getty Images
Top 10 decliners:
- DEAP Capital Management & Trust Plc: N9.39 to N6.82 (-N2.57, -27.37%)
- UH Real Estate Investment Trust: N94.85 to N69.25 (-N25.60, -26.99%)
- Red Star Express Plc: N20.80 to N17.15 (-N3.65, -17.55%)
- UPDC Real Estate Investment Trust: N8.95 to N7.85 (-N1.10, -12.29%)
- Cornerstone Insurance Plc: N6.21 to N5.45 (-N0.76, -12.24%)
- Omatek Ventures Plc: N3.00 to N2.64 (-N0.36, -12.00%)
- Sunu Assurances Nigeria Plc: N5.13 to N4.52 (-N0.61, -11.89%)
- AXA Mansard Insurance Plc: N15.89 to N14.30 (-N1.59, -10.01%)
- Chams Holding Company Plc: N5.00 to N4.59 (-N0.41, -8.20%)
- Lasaco Assurance Plc: N2.45 to N2.26 (-N0.19, -7.76%)
Source: Legit.ng
