Nigeria’s equities market increased remarkably by 4.26 percent in one week as investors’ interest mostly in banking and insurance stocks drove the value of NGX-listed stocks higher by N3.464 trillion, the highest weekly gain this year.
The record rally on the Nigerian Bourse in the trading week ended Friday, July 11, pushed the returns year-to-date (YtD) to a new high of +22.56 percent.
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Ninety equities appreciated in price during the review week, higher than 78 equities in the preceding week. Sixteen equities depreciated in price, lower than 20 in the preceding trading week, while 41 equities remained unchanged, lower than 49 recorded in the preceding week.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation appreciated by 4.26 percent and 4.54 percent to close at 126,149.59 points and N79.803 trillion respectively as against 120,989.66 points and N76.339 trillion recorded the preceding weekend.
All other indices finished the week higher with the exception of NGX Oil and Gas Index, which depreciated by 0.72 percent.
The market recorded total turnover of 5.390 billion shares worth N107.811 billion in 134,390 deals, in contrast to a total of 5.466 billion shares valued at N108.099 billion that exchanged hands the preceding week in 118,570 deals.
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The Financial Services Industry (measured by volume) led the activity chart with 3.019 billion shares valued at N56.244 billion traded in 55,574 deals; thus contributing 56 percent and 52.17 percent to the total equity turnover volume and value, respectively. The Oil and Gas Industry followed with 565.645 million shares worth N8.111 billion in 9,914 deals; and the Services Industry, with a turnover of 466.153 million shares worth N2.595 billion in 10,832 deals.
Trading in the top three equities, namely Access Holdings Plc, Japaul Gold & Ventures Plc and AIICO Insurance Plc (measured by volume), accounted for 1.396 billion shares worth N15.835 billion in 12,828 deals, contributing 25.90 percent and 14.69 percent to the total equity turnover volume and value, respectively.
