Financial Services leads activity chart as NGX ends week bullish

In the just concluded trading week, a total turnover of 2.179 billion shares worth N21.963 billion in 22,438 deals exchanged hands by investors on the floor of the Nigerian Exchange Limited, NGX, in contrast to a total of 2.187 billion shares valued at N16.183 billion that traded last week in 14,377 deals.

The NGX All-Share Index and Market Capitalization appreciated by 1.61% and 1.62% to close the week at 40,868.36 and N21.296 trillion.

Forty-two (42) equities appreciated in price during the week, higher than thirty-three (33) equities in the previous week. Twenty-two (26) equities depreciated in price, higher than twenty-two (22) equities in the previous week, while eighty-seven (87) equities remained unchanged lower than one hundred (100) equities recorded in the previous week.

Similarly, all other indices finished higher with the exception of NGX Insurance and NGX Consumer Goods Indices that shed 1.51% and 0.51% respectively, while the NGX ASeM, NGX Growth and NGX Sovereign Bond Indices closed flat.

The Financial Services Industry, when measured by volume, led the activity chart with 1.770 billion shares valued at N18.058 billion traded in 12,942 deals; thus contributing 81.20% and 82.22% to the total equity turnover volume and value respectively. The Conglomerates followed with 93.178 million shares worth N169.819 million in 736 deals. The third place was ICT Industry, with a turnover of 72.338 million shares worth N1.043 billion in 861 deals.

Trading in the top three equities namely FBN Holdings Plc, Universal Insurance Plc and Fidelity Bank Plc, when measured by volume, accounted for 1.161 billion shares worth N12.338 billion in 3,460 deals, contributing 53.28% and 56.18% to the total equity turnover volume and value respectively.

ETP
A total of 260 units valued at N5,362.50 were traded this week in 2 deals compared with a total of 160,433 units valued at N52.347 transacted last week in 23 deals.

BONDS
A total of 62,005 units valued at N65.842 million were traded this week in 39 deals compared with a total of 41,267 units valued at N42.568 million transacted last week in 17 deals.

Confidence Okwuchi