NGX ends October bullish, market indicators appreciate by 0.66%

Chiamaka Ikechukwu 

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Business activities on the floor of the Nigerian Exchange Group Limited (NGX) ended bullish to close the month of October as major market components appreciated by 0.66 percent.


This is coming after two days of reversed losses occasioned by gains in major blue chip companies, especially Cadbury Nigeria and University Press.


The key market indicators, NGX All-Share Index and Market Capitalization, appreciated by 0.66% to close the week at 42,038.60 and N21.938 trillion.


All other indices finished higher with the exception of NGX CG and NGX Meri Value indices, which depreciated by 0.04% and 2.20% respectively, while the NGX ASeM and NGX Growth closed flat.


This is in line with analyst expectations for the market in a month that has seen gains and losses in large and medium stocks amid bargain hunting by investors.


A total turnover of 3.001 billion shares worth N34.547 billion in 25,932 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 1.565 billion shares valued at N18.384 billion that exchanged hands last week in 21,621 deals.


The Financial Services Industry, measured by volume, led the activity chart with 1.600 billion shares valued at N15.608 billion traded in 14,065 deals; thus contributing 53.33% and 45.18% to the total equity turnover volume and value.


The Oil and Gas Industry followed with 845.699 million shares worth N11.725 billion in 1,706 deals.


The third place was Conglomerates Industry, with a turnover of 220.120 million shares worth N335.235 million in 1,238 deals.


Trading in the top three equities namely Eterna Plc, FBN Holdings Plc, and Transnational Corporation of Nigeria Plc (measured by volume) accounted for 1.731 billion shares worth N19.681 billion in 4,207 deals, contributing 57.66% and 56.97% to the total equity turnover volume and value.

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