NGX extends weekly gains by N60bn w/w
By Motolani Oseni
Despite sell-offs from some highly priced stocks, the equities market of the Nigerian Exchange Limited (NGX), closed mildly positive last week as market capitalisation gained N60 billion week-on-week (W-o-W) to close at N30.455 trillion.
Also , the All-Share Index (ASI), which is the benchmark index inched higher by 0.20 per cent W-o-W to close 55,930.97 points.
Analysis of the closing figures from the NGX, showed that the NGX Insurance index recorded a weekly gain of 13.9 per cent, the most significant gain. NGX Oil & Gas index followed with a weekly gain of 3.4 per cent, while NGX Banking index and NGX Consumer Goods index rose by 1.1 per cent and 0.1 per cent respectively.
On the flip side, the NGX Industrial Goods index declined by 1.3 per cent for the week.
The market breadth for the week was negative as 52 equities appreciated in price, 27 equities depreciated in price, while 77 equities remained unchanged. Eterna led the gainers table by 45.41 per cent to close at N13.45, per share. Unity Bank followed with a gain of 44 per cent to close at 72 kobo, while FTN Cocoa Processors went up by 40.91 per cent to close to 93 kobo, per share.
On the other side, John Holt led the decliners table by 26.70 per cent to close at N1.40, per share. RT Briscoe followed with a loss of 10.53 per cent to close at 34 kobo, while SUNU Assurance declined by 10.42 per cent to close at 43 kobo, per share.
Overall, a total turnover of 2.196 billion shares worth N45.971 billion in 31,655 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 2.586 billion shares valued at N46.643 billion that exchanged hands prior week in 35,122 deals.
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The Financial Services Industry (measured by volume) led the activity chart with 1.578 billion shares valued at N15.652 billion traded in 14,851 deals; contributing 71.82 per cent and 34.05 per cent to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with 157.221 million shares worth N1.304 billion in 3,549 deals, while the Consumer Goods Industry traded a turnover of 101.562 million shares worth N1.939 billion in 3,944 deals.
Trading in the top three equities; United Bank for Africa (UBA), FCMB Group and NPF Microfinance Bank (measured by volume) accounted for 696.244 million shares worth N4.019 billion in 2,398 deals, contributing 31.70 per cent and 8.74 per cent to the total equity turnover volume and value respectively.
