NGX Closes Week Higher as Market Capitalisation Hits N162.16 Trillion
By Aboki Forex —
The Nigerian Exchange ended the week on a positive note, with the All-Share Index rising 2.78% to close at 249,804.56 points. Market capitalisation climbed 2.90% to N162.157 trillion.
Investors traded 3.249 billion shares worth N237.986 billion across 287,919 deals during the week. That compares with 3.647 billion shares valued at N130.151 billion in 244,777 deals the previous week, fewer transactions by volume but a large jump in the naira value of shares changing hands.
Market breadth also turned sharply. A total of 52 equities recorded gains, against just 9 in the previous week.
Financials Drive the Week
The Financial Services industry was by far the most active sector, accounting for 79.43% of total equity turnover volume and 40.85% of total equity turnover value. Investors in the sector exchanged 2.581 billion shares worth N97.212 billion across 138,900 deals.
Fidelity Bank Plc, Sterling Financial Holdings Company Plc and Mutual Benefits Assurance Plc were the three most traded stocks by volume. Together they accounted for 1.229 billion shares worth N15.942 billion in 7,796 deals, representing 37.83% of total equity turnover volume and 6.70% of total equity turnover value.
Top Gainers
UPDC Real Estate Investment Trust led the gainers, rising from N13.75 to N18.55, a gain of N4.80 or 34.91%. Sovereign Trust Insurance Plc followed, up from N1.68 to N2.20, a gain of N0.52 or 30.95%.
Mutual Benefits Assurance Plc rose from N2.95 to N3.60, gaining N0.65 or 22.03%. Nigerian Exchange Group Plc climbed from N148.00 to N179.90, up N31.90 or 21.55%. First HoldCo Plc increased from N136.00 to N160.00, a gain of N24.00 or 17.65%.
McNichols Consolidated Plc rose from N4.45 to N5.20, gaining N0.75 or 16.85%. Livestock Feeds Plc appreciated from N6.85 to N8.00, up N1.15 or 16.79%. Fortis Global Insurance Plc moved from N1.45 to N1.65, a gain of N0.20 or 13.79%.
Consolidated Hallmark Holdings Plc rose from N6.50 to N7.37, gaining N0.87 or 13.38%, while NPF Microfinance Bank Plc increased from N3.60 to N4.00, up N0.40 or 11.11%.
Top Decliners
Transcorp Power Plc led the decliners, falling from N219.60 to N178.00, a loss of N41.60 or 18.94%. John Holt Plc declined from N9.00 to N7.30, losing N1.70 or 18.89%, and Ellah Lakes Plc fell from N10.20 to N8.35, a loss of N1.85 or 18.14%.
Livingtrust Mortgage Bank Plc dropped from N3.15 to N2.60, losing N0.55 or 17.46%. Omatek Ventures Plc declined from N1.37 to N1.20, down N0.17 or 12.41%. PZ Cussons Nigeria Plc fell from N83.00 to N73.60, losing N9.40 or 11.33%.
Learn Africa Plc declined from N9.00 to N8.00, a loss of N1.00 or 11.11%. Industrial & Medical Gases Nigeria Plc fell from N30.70 to N27.65, losing N3.05 or 9.93%.
Ecobank Transnational Incorporated declined from N74.00 to N67.00, down N7.00 or 9.46%, while Cadbury Nigeria Plc fell from N58.45 to N53.00, losing N5.45 or 9.32%.
The week's numbers point to money moving back into banking and insurance counters, the same sectors that dominate turnover on the NGX. For Nigerian businesses and consumers, the gains are mostly a paper story for now. The naira value of trades nearly doubled week on week even as volume fell, a sign that buyers are paying up for the names they want.