Nigerian Stock Market Records Weekly Gain As Turnover Hits N164.8billion
- The NGX closed the week higher, with the All-Share Index and market capitalisation rising
- Data shows during the week Financial Services stocks dominated trading activity
- Access Holdings, Fortis Global Insurance, and First Holdco among the most traded equities
Legit.ng journalist Dave Ibemere has experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian Exchange closed the week higher, with the All-Share Index rising by 0.73% and market capitalisation increasing to N127.361 trillion.
Data from NGX showed that the financial Services stocks dominated trading activity, accounting for 65.61% of total turnover by volume, with Access Holdings, Fortis Global Insurance, and First Holdco among the most traded equities.
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Market breadth was negative as 61 equities declined, while SCOA Nigeria, Fortis Global Insurance, and Sovereign Trust Insurance led the decliners.
As at the end of trading on Friday, March 13, a total turnover of 3.321 billion shares valued at N164.845 billion in 318,907 deals was recorded on the trading floor during the week.
This is higher than 3.695 billion shares worth N177.687 billion traded in 370,980 deals in the previous week.
Sectorial performance snapshot
The Financial Services industry, measured by volume, led trading activity with 2.179 billion shares valued at N59.809 billion exchanged in 124,992 deals. The sector accounted for 65.61% of total equity turnover volume and 36.28% of total value.
The Oil and Gas industry followed, recording 207.690 million shares worth N27.606 billion traded in 32,820 deals. The Consumer Goods industry ranked third, with a turnover of 189.633 million shares valued at N11.852 billion in 34,288 deals.
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All other indices finished lower during the week, except the NGX Main Board, NGX 30, NGX Consumer Goods, NGX Oil & Gas, NGX Industrial Goods, NGX Sovereign Bond, and NGX Banking indices.
Top price gainers
- Premier Paints Plc: N14.60 to N19.40 (+N4.80, 32.88%)
- Conoil Plc: N169.00 to N204.40 (+N35.40, 20.95%)
- BUA Cement Plc: N225.00 to N270.00 (+N45.00, 20.00%)
- Fidson Healthcare Plc: N88.50 to N105.35 (+N16.85, 19.04%)
- Omatek Ventures Plc: N2.20 to N2.60 (+N0.40, 18.18%)
- Nigerian Exchange Group Plc: N150.95 to N176.50 (+N25.55, 16.93%)
- Guinness Nigeria Plc: N344.40 to N385.00 (+N40.60, 11.79%)
- International Breweries Plc: N13.60 to N14.95 (+N1.35, 9.93%)
- May & Baker Nigeria Plc: N38.00 to N41.50 (+N3.50, 9.21%)
- CAP Plc: N92.25 to N99.00 (+N6.75, 7.32%)
Top price decliners
- SCOA Nigeria Plc: N34.35 to N22.65 (-N11.70, -34.06%)
- Fortis Global Insurance Plc: N1.49 to N1.18 (-N0.31, -20.81%)
- Sovereign Trust Insurance Plc: N2.66 to N2.11 (-N0.55, -20.68%)
- Aluminium Extrusion Industries Plc: N15.50 to N12.60 (-N2.90, -18.71%)
- LivingTrust Mortgage Bank Plc: N5.87 to N4.85 (-N1.02, -17.38%)
- Learn Africa Plc: N9.80 to N8.25 (-N1.55, -15.82%)
- RT Briscoe Plc: N12.06 to N10.40 (-N1.66, -13.76%)
- Linkage Assurance Plc: N1.79 to N1.56 (-N0.23, -12.85%)
- Mutual Benefits Assurance Plc: N5.20 to N4.60 (-N0.60, -11.54%)
- UACN Plc: N115.80 to N102.50 (-N13.30, -11.49%)
Elumelu wealth expands
Earlier, Legit.ng reported that billionaire entrepreneur Tony Elumelu is set to further expand his wealth and influence after becoming the largest shareholder in Seplat Energy Plc through a $496 million acquisition.
Elumelu, via his investment vehicle Heirs Holdings and its subsidiary Heirs Energies Ltd, acquired a 20.07% equity stake in Seplat Energy from French oil firm Etablissements Maurel & Prom S.A. (M&P), according to a regulatory filing on the Nigerian Exchange.
Source: Legit.ng
