Stock market rises by 2.98%, W/W

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation appreciated by 2.98 per cent to close the week  at N60,968.27 and N33.198 trillion respectively.

Similarly, all other indices finished higher while the NGX ASeM and NGX Sovereign Bond.

The market opened for three trading days last week as the Federal Government of Nigeria declared Wednesday June 28 and Thursday June 29, 2023 as Public Holidays to commemorate Eid el Kabir celebration.

A total turnover of 2.314 billion shares worth N41.547 billion in 28,095 deals were traded last 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 in the preceding week in 39,764 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.715 billion shares valued at N24.652 billion traded in 14,227 deals; thus contributing 74.09 per cent and 59.33 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 98.423 million shares worth N379.169 million in 1,176 deals. The third place was the Consumer Goods Industry, with a turnover of 96.885 million shares worth N2.216 billion in 3,470 deals.

Trading in the top three equities namely Access Holdings Plc, United Bank for Africa Plc and Guaranty Trust Holding Company Plc (measured by volume) accounted for 844.596 million shares worth N16.302 billion in 5,493 deals, contributing 36.49 per cent and 39.24 per cent to the total equity turnover volume and value respectively.

On the leaders table, Ikeja Hotel led the gainers with 33.00 per cent increased to close at N3.99 per share, Transcorp hotel which followed appreciated by 32.90 per cent increased to close at N23.40 per share, while Eternal Oil grew by 32.49 per cent to close at N21.00 per share Sterling Financial Holdings Co rose by 30.74 per cent to close at N3.36 per share, while Chams Holdings company plc went up by 29.82 per cent to close at N0.74 per share.

On the laggards logs,  Secure Electronic Technology led as the highest loser which lost 13.16 per cent to close at N0.33 per share, followed by Guinea Insurance and Universal Insurance which suffered 12.50 per cent loss each to close at N0.21 per share respectively.

Sovereign Trust Insurance Company which recorded as the last fourth loser went down by 10.91 per cent to close at N0.49 per share, while Pharmadeko Plc which recorded as the last fifth loser dropped by 10.00 per cent to close at N1.80 per share.

Seventy-seven (77) equities appreciated in price during the week higher than sixty-two (62) equities in the previous week. Fifty-nine (59) equities depreciated in price higher than thirty five (35) in the previous week, while twenty (20) equities remained unchanged, lower than fifty-nine (59) recorded in the previous week.