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Tuesday, August 9, 2022
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Equities Market Soars As Investors Gain N486bn

At the end of last week’s trading on the floor of the Nigerian Exchange Limited, investors made a profit of N486 billion.

Last week, the market was closed for four trading days since the Nigerian government proclaimed Monday a public holiday in honor of the 2022 Easter celebrations.

Last week, the NGX All-Share Index and the market capitalization of shares listed on the NGX both increased by 2% to close at 48,459.65 and N26.125 trillion, respectively.

All other indices concluded higher as well, with the exception of the NGX Insurance index, which fell by 0.05 percent, while the NGX Asem, NGX Afr. bank value, and NGX Growth indices were unchanged.

According to the NGX, 50 stocks increased in value over the week, down from 51 stocks the week before.

Twenty-nine stocks declined in value, compared to 18 stocks the previous week, while 77 stocks stayed steady, compared to 87 stocks the previous week.

Investors
AIHS 2022

According to the NGX weekly market report, investors on the floor of the Exchange transacted 1.302 billion shares worth N17.813 billion in 20,212 transactions last week, compared to 1.247 billion shares worth N22.372 billion in 23,406 transactions the week before.

The Financial Services Industry (measured by volume) topped the activity chart, with 836.781 million shares worth N6.007 billion traded in 9,527 transactions, accounting for 64.28 percent of total stock turnover volume and 33.72 percent of total equity turnover value.

The oil and gas industry came in second, with 86.909 million shares worth N1.243 billion traded in 1,770 transactions. The consumer goods industry came in third with a turnover of 86.286 million shares worth N2.225 billion in 3,056 transactions.

The top three equities, Fidelity Bank Plc, Zenith Bank Plc, and Universal Insurance Plc (measured by volume), traded 279.507 million shares worth N2.627 billion in 2,504 deals, accounting for 21.47 percent of total equity turnover volume and 14.75 percent of total equity turnover value, respectively.

PUNCH

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