NGX All-Share Index Rises 2.78% As 52 Equities Gain in One Week

• The Nigerian Exchange closed the week with its All-Share Index climbing to 249,804.56 points amid heavy trading activity
• Financial Services stocks drove most of the week's trades, with Fidelity Bank among the top three most active equities on the bourse
• Market breadth saw a sharp turnaround as 52 equities recorded gains, compared to just 9 in the previous week

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian Exchange (NGX) ended the week on a positive note, with both the All-Share Index and overall market capitalisation posting gains of 2.78% and 2.90%, respectively.

The All-Share Index closed at 249,804.56 points, while market capitalisation rose to N162.157 trillion.

Investors traded a total of 3.249 billion shares worth N237.986 billion across 287,919 deals during the week.

That compares with the previous week's figure of 3.647 billion shares valued at N130.151 billion in 244,777 deals fewer transactions in value terms, but a significant jump in the naira worth of shares changing hands.

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The Financial Services industry was by far the most active sector, accounting for 79.43% of total equity turnover volume and 40.85% of total equity turnover value.

Investors in the sector exchanged 2.581 billion shares worth N97.212 billion across 138,900 deals.

Fidelity Bank Plc, Sterling Financial Holdings Company Plc, and Mutual Benefits Assurance Plc were the three most traded stocks by volume, together accounting for 1.229 billion shares worth N15.942 billion in 7,796 deals.

The trio represented 37.83% of total equity turnover volume and 6.70% of total equity turnover value.

Top 10 price gainers

• UPDC Real Estate Investment Trust led the gainers after its share price rose from N13.75 to N18.55, representing a gain of N4.80 or 34.91%.
• Sovereign Trust Insurance Plc followed, rising from N1.68 to N2.20, a gain of N0.52 or 30.95%.
• Mutual Benefits Assurance Plc increased from N2.95 to N3.60, representing a gain of N0.65 or 22.03%.
• Nigerian Exchange Group Plc rose from N148.00 to N179.90, gaining N31.90 or 21.55%.
• First HoldCo Plc increased from N136.00 to N160.00, representing a gain of N24.00 or 17.65%.
• McNichols Consolidated Plc rose from N4.45 to N5.20, gaining N0.75 or 16.85%.
• Livestock Feeds Plc appreciated from N6.85 to N8.00, representing a gain of N1.15 or 16.79%.
• Fortis Global Insurance Plc increased from N1.45 to N1.65, gaining N0.20 or 13.79%.
• Consolidated Hallmark Holdings Plc rose from N6.50 to N7.37, representing a gain of N0.87 or 13.38%.
• NPF Microfinance Bank Plc increased from N3.60 to N4.00, gaining N0.40 or 11.11%.

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Top 10 price decliners

• Transcorp Power Plc led the decliners after its share price fell from N219.60 to N178.00, representing a loss of N41.60 or 18.94%.
• John Holt Plc declined from N9.00 to N7.30, losing N1.70 or 18.89%.
• Ellah Lakes Plc fell from N10.20 to N8.35, representing a loss of N1.85 or 18.14%.
• Livingtrust Mortgage Bank Plc dropped from N3.15 to N2.60, losing N0.55 or 17.46%.
• Omatek Ventures Plc declined from N1.37 to N1.20, representing a loss of N0.17 or 12.41%.
• PZ Cussons Nigeria Plc fell from N83.00 to N73.60, losing N9.40 or 11.33%.
• Learn Africa Plc declined from N9.00 to N8.00, representing a loss of N1.00 or 11.11%.
• Industrial & Medical Gases Nigeria Plc fell from N30.70 to N27.65, losing N3.05 or 9.93%.
• Ecobank Transnational Incorporated declined from N74.00 to N67.00, representing a loss of N7.00 or 9.46%.
• Cadbury Nigeria Plc fell from N58.45 to N53.00, losing N5.45 or 9.32%.

Source: Legit.ng