Stock market rises to 0.89% w/w

By Philemon Adedeji

The Nigerian Exchange Limited (NGX), All-Share Index (ASI) and market capitalization appreciated by 434.26 absolute points representing 0.89 per cent to close the week at 49,316.29 basis points from 48,881 basis points it closed last week.

Similarly, as a result, the year-to-date (YTD) return rose to 15.45 per cent, while the market capitalization gained N236.58 billion w/w to close at N26.861 trillion.

The Financial Services Industry (measured by volume) led the activity chart with 663.799 million shares valued at N5.517 billion traded in 7,240 deals; thus contributing 81.54 per cent and 45.21 per cent to the total equity turnover volume and value respectively.

The ICT Industry followed with 44.358 million shares worth N4.493 billion in 1,136 deals. The third place was the Consumer Goods Industry, with a turnover of 27.372 million shares worth N1.187 billion in 3,051 deals.

A total turnover of 814.089 million shares worth N12.204 billion in 15,488 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.225 billion shares valued at N15.243 billion that exchanged hands last week in 15,317 deals.

Trading in the top three equities namely Sterling Bank Plc, Access Holdings Plc and Guaranty Trust Holding Company Plc (measured by volume) accounted for 394.878 million shares worth N2.847 billion in 2,274 deals, contributing 48.51 per cent and 23.33 per cent to the total equity turnover volume and value respectively.

A total of 10,398 units valued at N11.496 million were traded this week in 14 deals compared with a total of 20,863 units valued at N22.124 million transacted last week in 32 deals.

On the leaders chart, Learnafrica rose from N1.65 to N2.12, up by 28.48 per cent, followed by Thomas Wyatt which rose by N0.48 to N0.57,up by 18.75 per cent, while Cornerstone Insurance plc grew from N0.46 to N0.52, up by 13.04 per cent.

Coronation Insurance moved from N0.37 to N0.41, up by 10.81 per cent and Smart products Nigeria which recorded as the last fifth gainer rose from N0.20 to N0.22, up by 10.00 per cent.

However, Mcnichols Plc led the losers chart with 11.48 per cent to close at N0.54 per share, followed by Academy Press which depreciated by 9.70 per cent to close at N1.21 per share, while Prestige Assurance dropped by 8.70 per cent to close at N0.46 per cent.

Multiverse and Mining Evaporation which recorded as the last fourth loser declined by 8.51 per cent to close at N3.98 per share and Axa Mansard Insurance lost 8.04 per cent to close at N1.83 per cent.

32 equities appreciated during the week, higher than 31 equities in the previous week. 28 equities depreciated at a price higher than 26 in the previous week, while 97 equities remained unchanged, lower than  100 equities recorded in the previous week.