Nigerian Exchange Group records growth w-o-w, up 0.70%


By Philemon Adedeji

The Nigerian equities market closed bullish during the week as the All-Share index appreciated by 0.70 per cent in the week ended 5th August 2022. This is following the 3.10 per cent decline recorded in the previous week.

This is according to the information contained in the weekly stock market report, released by the Nigerian Exchange Group.

The benchmark index, ASI, appreciated by 0.70 per cent from 50,370.25 index points recorded as of the end of last week to close the week at 50,722.33 index points, in Naira term market capitalization followed suit to close at N27.36 trillion.

This brings the month-to-date performance of the Nigerian stock market to 0.70 per cent and a year-to-date gain of 18.74 per cent.

A total of 705.636 million shares valued at N12.850 billion were traded during the week across 22,124 deals on the floor of the Exchange, compared to the 1.546 billion units of shares valued at N16.289 billion that exchanged hands in the previous week in 23,873 deals.

Similar to the previous week, the Financial Services Industry led the activity chart in terms of volume of shares traded with 442.525 million shares valued at N4.345 billion traded in 9,995 deals; thereby contributing 62.71 per cent and 33.81 per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 82.126 million shares worth N2.176 billion in 3,875 deals, while the Conglomerates Industry, stood in third place with a turnover of 51.083 million shares worth N242.084 million in 694 deals

Trading in the top three equities by volume namely Guaranty Trust Holding Company Plc, Zenith Bank Plc and First Bank of Nigeria Holdings Plc accounted for 173.852 million shares worth N3.073 billion in 4,324 deals, contributing 24.64 per cent  and 23.91 per cent to the total equity turnover volume and value respectively.

Similarly, 14 indices finished high, while 4 indexes declined with the exception of NGX ASeM Index which remained unchanged.

JAPAULGOLD up  by 47.83  per cent to close at,  N0.34, followed by HONEYFLOUR MILL which rose by 36.10 per cent to close at N2.79 per share while, PZ grew significantly by 20.59 per cent to close at N10.25 per cent, COURTVILLE BUSINESS SOLUTION moved up by 17.50 per cent to close at N0.47 per share, CAVERTON PLC gained 17.00 per cent to close at N1.17 per cent.

MCNICHOLS  which led the losers down  by 18.68 per cent to close at N0.74 per share, as followed by LEARNAFRCA  which depreciated by 15.38 per cent to close at N2.20  per share, BUA CEMENT declined by 15.15 per cent to close at N58.80 per share, UPL dipped by 9.79 per cent to close at N2.12 per share.

NEIMETH pharmaceutical industry down by 9.68  per cent to close at N1.40 per share.