NGX Closes Week Lower as Market Cap Drops to N160.08 Trillion
By Aboki Forex —
The Nigerian Exchange ended the week on a bearish note. The All-Share Index fell by 0.25 percent to settle at 249,712.37 points. Market capitalisation also declined by 0.23 percent to N160.08 trillion.
Total turnover for the week stood at 3.88 billion shares worth N161.76 billion in 334,745 deals. That was lower than the previous week’s 7.77 billion shares valued at N374.04 billion in 402,945 deals.
Financial Services Stocks Dominate Trading
Financial Services stocks led activity on the exchange. They accounted for 62.19 percent of total turnover volume, with 2.41 billion shares worth N69.71 billion traded in 126,919 deals. The sector contributed 43.10 percent of total turnover value.
The Services industry ranked second with 409.31 million shares valued at N5.41 billion in 25,908 deals. Oil and Gas came third with 294.86 million shares worth N31.50 billion traded in 26,738 deals.
The three most traded equities were Sterling Financial Holdings Company Plc, Fidelity Bank Plc and Access Holdings Plc. Together, they accounted for 1.09 billion shares valued at N19.53 billion in 21,683 deals. That represented 28.18 percent of total equity turnover volume and 12.07 percent of total value.
Market Breadth Turns Negative
Market breadth closed negative for the week. Only 38 equities appreciated in price, down from 74 in the previous week. Fifty-five equities depreciated, while 53 equities closed flat. In the prior week, there were 24 losers and 48 unchanged equities.
Top Gainers and Losers
Associated Bus Company Plc led the gainers, rising by 44.82 percent to close at N9.08. Academy Press Plc gained 29.79 percent to N9.15. University Press Plc added 28.00 percent to N6.40. International Energy Insurance Plc rose 22.22 percent to N3.41. Learn Africa Plc gained 18.89 percent to N12.90. Japaul Gold and Ventures Plc rose 14.37 percent to N3.82. Zichis Agro Allied Industries Plc gained 14.34 percent to N33.65. Oando Plc rose 11.70 percent to N52.50. FTN Cocoa Processors Plc added 10.49 percent to N9.90. Aluminium Extrusion Industries Plc gained 10.00 percent to N9.90.
On the losing side, Sovereign Trust Insurance Plc dropped 22.45 percent to N2.28. Trans-Nationwide Express Plc fell 18.98 percent to N5.72. CAP Plc lost 14.85 percent to N199.00. Berger Paints Plc declined 12.64 percent to N147.60. R.T. Briscoe Plc dropped 11.18 percent to N14.06. NCR (Nigeria) Plc fell 9.99 percent to N161.20. Industrial and Medical Gases Nigeria Plc lost 9.93 percent to N38.10. Livestock Feeds Plc declined 9.18 percent to N8.90. VFD Group Plc fell 9.13 percent to N9.95. Ellah Lakes Plc dropped 8.22 percent to N10.05.