NGX closes week with 80 gainers, All-Share Index up 2.36% to 166,129.50
By Aboki Forex —
The Nigerian Exchange (NGX) ended the week on a strong note, with the All-Share Index climbing 2.36% to close at 166,129.50 points. Market capitalisation rose 2.48% to N106.354 trillion.
Weekly turnover reached 4.607 billion shares valued at N130.636 billion across 263,439 deals. That was up from 4.164 billion shares worth N94.026 billion recorded in 248,254 deals the previous week.
Financial services lead activity
The Financial Services industry dominated the week, 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. 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 most traded equities by volume. The three stocks accounted for 1.406 billion shares worth N9.735 billion in 11,732 deals. That represents 30.52% of total volume and 7.45% of total value for the week.
Gainers and losers
Market breadth stayed positive, though it softened slightly compared with the previous week. A total of 80 equities recorded price gains, down from 84 the week before. Seventeen 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. DEAP Capital Management and Trust Plc advanced 48.67% from N3.00 to N4.46, while Jaiz Bank Plc gained 45.73%, moving from N5.62 to N8.19.
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.
Most sectoral indices closed higher, with the exception of the NGX AFR Dividend Yield Index, which dipped 0.15%. The broad rally shows renewed investor appetite across the market, a positive signal for Nigerian equities in the weeks ahead.