NGX All-Share Index Rises 2.36% as Market Capitalisation Hits N106.3trn
- The Nigerian Exchange closed the week with the All-Share Index at 166,129.50 points, driven by strong activity across most sectors
- Financial Services stocks led trading for the week, with Sovereign Trust Insurance, Access Holdings and Linkage Assurance among the top equities by volume
- NCR Nigeria and SCOA Nigeria topped the gainers list, while Ikeja Hotel and Austin Laz recorded the steepest price drops
PAY ATTENTION: Find it fast with our new search feature at Legit.ng!
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 the All-Share Index climbing 2.36% to close at 166,129.50 points, while market capitalisation rose 2.48% to reach N106.354 trillion.
Total trading for the week reached 4.607 billion shares valued at N130.636 billion across 263,439 deals, a significant increase from the 4.164 billion shares worth N94.026 billion recorded in 248,254 deals the previous week.
Source: Getty Images
Financial Services Sector Drives Volume
The Financial Services industry dominated the week's activity, accounting for 67.84% of total equity turnover by volume. The sector recorded 3.126 billion shares valued at N47.225 billion in 94,186 deals.
The Services industry came second with 353.436 million shares worth N5.096 billion in 17,764 deals, while the ICT industry ranked third with 277.263 million shares valued at N18.009 billion across 28,525 deals.
Sovereign Trust Insurance Plc, Access Holdings Plc and Linkage Assurance Plc were the three most traded equities by volume, collectively accounting for 1.406 billion shares worth N9.735 billion in 11,732 deals.
That figure represents 30.52% of total volume and 7.45% of total value for the week.
Most sectoral indices closed higher, with the exception of the NGX AFR Dividend Yield Index, which dipped 0.15%.
Gainers, Decliners and Market Breadth
Market breadth held positive for the week, though it softened slightly compared to the prior week. A total of 80 equities recorded price gains, down from 84 the week before, while 17 equities declined and 50 closed flat.
NCR (Nigeria) Plc posted the biggest gain, jumping from N79.95 to N128.55, a rise of 60.79%. SCOA Nigeria Plc followed, climbing 59.36% from N9.35 to N14.90, while DEAP Capital Management and Trust Plc advanced 48.67% from N3.00 to N4.46. Jaiz Bank Plc gained 45.73%, moving from N5.62 to N8.19.
Source: Getty Images
Top price decliners
Other notable gainers included Omatek Ventures Plc (+38.28%), Red Star Express Plc (+25.71%), UPDC Plc (+24.00%), E-Tranzact International Plc (+22.33%), Secure Electronic Technology Plc (+21.35%) and Multiverse Mining and Exploration Plc (+20.73%).
On the losing side, Ikeja Hotel Plc shed the most ground, falling 12.38% from N40.00 to N35.05. Austin Laz and Company Plc dropped 9.20% from N4.13 to N3.75, and Eterna Plc declined 7.71% from N35.00 to N32.30.
Universal Insurance Plc, Eunisell Interlinked Plc, Lasaco Assurance Plc, Cornerstone Insurance Plc, Sunu Assurances Nigeria Plc, Fidson Healthcare Plc and Nascon Allied Industries Plc also closed lower for the week.
Source: Legit.ng
