Equities Market Ends Week Bullish

By Chiamaka Okechukwu

Nigeria’s domestic stock market closed positive on Friday with a 0.81% profit on key market component.

The NGX All-Share Index and Market Capitalisation appreciated by 0.81% to close the week at 98,247.99 basis points and N56.457 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX MERI Value, NGX Consumer Goods, NGX Industrial Goods, NGX Growth and NGX Sovereign Bond which epreciated 0.34%, 0.77%, 0.13%, 10.85% and 3.59% respectively while the NGX ASeM index closed flat.

The market opened for four trading days this week as the Federal Government of Nigeria declared Monday September 16, 2024, as Public Holiday to commemorate 2024 Eid el Maulud celebration.

Meanwhile, a total turnover of 1.860 billion shares worth N38.445 billion in 40,228 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.584 billion shares valued at N51.205 billion that exchanged hands last week in 50,615 deals.

Performance

The Financial Services Industry as measured by volume led the activity chart with 820.815 million shares valued at N16.149 billion traded in 16,627 deals, contributing 44.13% and 42.01% to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with 443.711 million shares worth N5.055 billion in 5,319 deals.

The third place was the Conglomerates Industry, with a turnover of 183.729 million shares worth N2.971 billion in 2,510 deals.

Trading in the top three equities namely: Japaul Gold & Ventures Plc, FBN Holdings Plc and UACN Plc as measured by volume accounted for 728.034 million shares worth N10.029 billion in 4,374 deals, contributing 39.14% and 26.09% to the total equity turnover volume and value.

ETP

This segment of the market recorded a total of 146,162 units valued at N14.736 million that were traded this week in 151 deals
compared with a total of 43,535 units valued at N13.476 million transacted last week in 122 deals.

BONDS

In the this segment of the market, a total of 172,639 units valued at N163.409 million were traded this week in 24 deals
compared with a total of 197,343 units valued at N189.520 million transacted last week in 31 deals.