NGX ASI Gains 1.35% as Stock Market Ends Week Higher
- The Nigerian Exchange ended the week with gains as investors eyed Financial Services and ICT stocks
- Consolidated Hallmark Holdings Plc, Fidelity Bank Plc, and Access Holdings Plc led the top gainers
- The losers’ table includes Tripple Gee & Company Plc, Academy Press Plc, Regency Assurance Plc, and LivingTrust Mortgage Bank Plc
Dave Ibemere, a Legit.ng journalist with deep expertise in the Nigerian economy, stock market, and overall market trends.
Investors on the Nigerian Exchange (NGX) traded a total of 2.422 billion shares valued at N76.618 billion across 126,591 deals in 5 days of trading ending Friday, October 17.
Activities mark a slight increase in volume but a decrease in value compared with last week’s 2.286 billion shares worth N90.280 billion traded in 138,177 deals.
Source: Getty Images
Snapshot of how the market performed
The NGX All-Share Index (ASI) rose by 1.35% to close at 148,977.64 points, while market capitalisation increased by 1.36% to N94.561 trillion in one week.
Market breadth was positive, with 52 equities advancing, slightly higher than 51 last week. Forty-one equities declined, unchanged from the previous week, while 53 remained unchanged, down from 55.
The Financial Services sector dominated market activity, with 1.662 billion shares worth N32.565 billion exchanged in 56,253 deals, representing 68.65% of total turnover by volume and 42.50% by value.
The Information and Communication Technology (ICT) sector followed with 184.884 million shares valued at N8.662 billion in 11,500 deals, while the Services sector recorded 154.537 million shares worth N1.066 billion traded in 5,975 deals.
Top traded equities by volume included Consolidated Hallmark Holdings Plc, Fidelity Bank Plc, and Access Holdings Plc, with a combined turnover of 618.549 million shares valued at N9.220 billion in 9,277 deals, accounting for 25.54% of total volume and 12.03% of total value.
Gainers and losers
Top 10 Price Gainers:
- Sovereign Trust Insurance Plc: +11.21%
- Royal Exchange Plc: +11.11%
- Eunisell Interlinked Plc: +10.00%
- SFS Real Estate Investment Trust: +9.88%
- Omatek Ventures Plc: +9.49%
- Transcorp Power Plc: +8.92%
- Stanbic IBTC Holdings Plc: +8.26%
- Universal Insurance Plc: +8.11%
- Vitafoam Nig Plc: +7.41%
- Prestige Assurance Plc: +6.51%
Source: Getty Images
Top 10 Price Decliners:
- Tripple Gee & Company Plc: -18.84%
- Academy Press Plc: -17.92%
- Regency Assurance Plc: -13.94%
- LivingTrust Mortgage Bank Plc: -13.46%
- Industrial & Medical Gases Nig Plc: -9.87%
- Sunu Assurances Nig Plc: -9.01%
- UACN Plc: -8.53%
- Austin Laz & Company Plc: -7.94%
- Ellah Lakes Plc: -7.20%
- Chams Holding Company Plc: -6.98%
Naira loses more value
Legit.ng also reported on how the naira performed in the foreign exchange market.
It was not a good week as the naira lost some of its ground in recent weeks in both the official and black market, and it affected the customs exchange rate.
There are expectations that the poor performance will continue if the CBN does not intervene in the market.
Source: Legit.ng
