Stock investors on the Nigerian Exchange Limited (NGX) gained a total of N4.6 trillion in the week ended Friday October 30, pushing total market capitalisation up by 2.86 percent to settle at N165.114 trillion.
NGX All-Share Index (NGX-ASI) rebounded by 2.86 percent week-on-week (WoW) to close at 254,299.49 points, extending the market’s year-to-date (YtD) return to 63.42 percent.
Market sentiment improved week-on-week with more equities advancing and fewer declining compared to the previous week.
Thirty-three (33) equities appreciated in price (up from 20 equities in the preceding week).
Forty-eight (48) equities depreciated in price (down from 55 equities in the preceding week). Sixty-five (65) equities remained unchanged (down from 71 equities in the preceding week).
Read also: Nigerian stocks cross historic N165trn valuation peak
Heavyweight stock drivers…
The week’s growth was heavily anchored by price surges in major equities: Dangote Cement (+27.81 percent), Access Holdings: (+7.92 percent), MTN Nigeria (+3.03 percent), and Aradel Holdings (+2.48 percent).
While the primary All-Share Index recorded strong growth, performance across sub-indices showed mixed trends. Most major sector indices closed the week in positive territory. Trading activity surged significantly compared to the prior week.
Total weekly turnover of 7.619 billion shares worth N637.826 billion were traded across 192,138 deals. The market saw a sharp jump from 2.024 billion shares valued at N110.773 billion traded in 173,113 deals.
Financial Services Industry led activity with 6.990 billion shares worth N573.492 billion in 85,998 deals, contributing 91.75 percent of total volume and 89.91 percent of total value.
It was followed by the consumer goods sector with 164.650 million shares worth N7.201 billion in 20,297 deals, and the services industry with 93.278 million shares worth N1.567 billion in 9,932 deals.
Top 3 most traded equities…
Trading in First Holdco Plc, Guaranty Trust Holding Company Plc, and United Bank for Africa Plc dominated market activity: Their combined volume was 6.096 billion shares (80.02 percent of total market volume), while the combined value was N544.438 billion (85.36 percent of total market value).
Total deals was 27,001 deals. The bourse closed Friday’s session on a positive note, edging up by 0.09 percent.
Iheanyi Nwachukwu, is a creative content writer with over two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Deputy Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.
