Stock Market Closes Week Higher as Investors Boost Gains
- The stock market ended the week higher, with the ASI up 1.92% and Market Capitalisation rising 2.09%, as investors focused on Financial Services and ICT stocks
- Cornerstone Insurance, Chams Holding, and Access Holdings led trading by volume, while the financial services sector accounted for 76.61% of total turnover
- E Tranzact, First Holdco, LivingTrust Mortgage, CAP, and Champion Breweries led decliners, while 73 equities recorded price gains
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The NGX All-Share Index (ASI) and Market Capitalization rose by 1.92% and 2.09%, closing the week at 156,492.36 points and N99.938 trillion, respectively.
Investors traded a total of 7.821 billion shares valued at N134.471 billion across 150,799 deals this week, compared with 2.876 billion shares worth N63.832 billion in 80,229 deals recorded last week.
Source: Getty Images
By sector, the financial services Industry led activity with 5.992 billion shares valued at N67.024 billion in 55,598 deals, accounting for 76.61% of total volume and 49.84% of total value.
The ICT sector followed with 946.959 million shares worth N8.028 billion in 15,443 deals, while the Consumer Goods Industry recorded 258.820 million shares valued at N9.381 billion in 24,133 deals.
Trading in the top three equities by volume, Cornerstone Insurance Plc, Chams Holding Company Plc, and Access Holdings Plc accounted for 5.317 billion shares valued at N37.361 billion across 10,441 deals, representing 67.97% of total volume and 27.78% of total value.
Top 10 price gainers
- Austin Laz & Company Plc: 3.20 to 4.67 (45.94%)
- Aluminium Extrusion Ind. Plc: 16.35 to 23.80 (45.57%)
- Eunisell Interlinked Plc: 87.95 to 126.00 (43.26%)
- Associated Bus Company Plc: 3.27 to 4.51 (37.92%)
- Honeywell Flour Mill Plc: 17.75 to 23.00 (29.58%)
- Fidson Healthcare Plc: 43.90 to 55.00 (25.28%)
- DEAP Capital Management & Trust Plc: 1.70 to 2.09 (22.94%)
- McNichols Plc: 2.95 to 3.59 (21.69%)
- Ikeja Hotel Plc: 36.95 to 44.90 (21.52%)
- C & I Leasing Plc: 6.20 to 7.50 (20.97%)
Source: Getty Images
Top 10 Price Decliners
- E Tranzact International Plc: 12.60 to 11.35 (9.92%)
- First Holdco Plc: 53.00 to 48.80 (7.92%)
- LivingTrust Mortgage Bank Plc: 3.68 to 3.40 (7.61%)
- CAP Plc: 74.00 to 69.00 (6.76%)
- Champion Breweries Plc: 15.00 to 14.00 (6.67%)
- Abbey Mortgage Bank Plc: 6.40 to 6.00 (6.25%)
- Nigerian Breweries Plc: 79.35 to 74.80 (5.73%)
- Sovereign Trust Insurance Plc: 4.02 to 3.81 (5.22%)
- PZ Cussons Nigeria Plc: 47.10 to 45.00 (4.46%)
- Seplat Energy Plc: 5,809.00 to 5,610.00 (3.43%)
Naira appreciates against US dollar
Earlier, Legit.ng reported that the Nigerian naira gained slightly against the dollar in the official foreign exchange market, according to new data from the Central Bank of Nigeria.
While the naira showed modest improvement in the NAFEM window, it still faces challenges before achieving stability in both official and parallel FX markets.
Source: Legit.ng
