Stock market appreciates by 3.40%, W/W

By Philemon Adedeji

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalization appreciated by 3.40 per cent to close the week at 63,040.41 and N34.326 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX Consumer Goods Index which depreciated by 0.22 per cent while the NGX ASeM and NGX Sovereign Bond Indices closed flat.

The breakdown of market performance showed  total turnover of 9.831 billion shares worth N145.408 billion in 54,478 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 3.369 billion shares valued at N41.986 billion that exchanged hands last week in 39,764 deals.

The Financial Services Industry (measured by volume) led the activity chart with 8.349 billion shares valued at N127.944 billion traded in 27,291 deals; thus contributing 84.92 per cent and 87.99 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 420.770 million shares worth N1.683 billion in 2,840 deals. The third place was the ICT Industry, with a turnover of 220.121 million shares worth N2.198 billion in 3,237 deals.

Trading in the top three equities namely FBNH Holding Plc, FCMB Group Plc and United Bank for Africa (measured by volume) accounted for 6.071 billion shares worth N102.488 billion in 7,505 deals, contributing 61.75 per cent and 70.48 per cent to the total equity turnover volume and value respectively.

On the performance chart, Japaulgold and venture led as the highest price gainer with 58.57 per cent appreciation increased to close at N1.11 per share, followed by Consolidated Hallmark Insurance which rose by 57.32 per cent to close at N1.29 per share, while Chams Holding Company grew by 56.76 per cent to close at N1.16 per share.

Omatek Venture which recorded as the last fourth gainer went up by 52.78 per cent to close at N0.55 per share, while Veritas Kapital Assurance gained 47.83 per cent to close at N0.34 per share

On the laggards log, Coronation Insurance led as the highest price loser which lost 26.51 per cent to close at N0.61 per share, Tripple Gee and Company which followed suffered 26.40 per cent to close at N2.76 per share, while Ikeja Hotel went down by 21.05 per cent to close at N3.15 per share.

LASACO Assurance which recorded as the last fourth loser dipped by 16.92 per cent to close at N2.16 per share, while Champion Breweries which recorded as the last fifth loser dropped by 14.50 per cent to close at N4.60 per share

The summary of price changes revealed seventy-eight (78) equities appreciated in price during the week higher than seventy-seven (77) equities in the previous week. Twenty-five (25) equities depreciated in price lower than fifty-nine (59) in the previous week, while Fifty-three (53) equities remained unchanged, higher than twenty (20) recorded