• Tuesday, March 05, 2024
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BusinessDay

Stock market finishes week strong

Investors trade Transcorp Power’s 40mn shares worth N10.56bn after listing

Nigeria’s equities market closed the week ended Friday, December 22 on a positive note as buy-side activity on the Bourse continued despite record profit taking. The market recorded four days of positive closes and a day of negative.

The NGX All-Share Index and Market Capitalisation appreciated by 2.26percent to close the week at 74,023.27 and N40.507 trillion respectively.

All other indices finished higher with the exception of NGX ASeM, NGX Consumer Goods and NGX Growth which depreciated by 0.90percent, 0.70percent and 0.18percent respectively while the NGX Sovereign Bond index closed flat.

Fifty-five (55) equities appreciated in price during the review week higher than fifty-three (53) equities in the preceding week. Thirty-five (35) equities depreciated in price higher than thirty-two (32) in the preceding week, while sixth-five (65) equities remained unchanged, lower than seventy (70) recorded in the preceding week.

The market recorded total turnover of 2.474 billion shares worth N53.787 billion in 35,848 deals, in contrast to a total of 1.882 billion shares valued at N31.630 billion that exchanged hands preceding week in 33,020 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.756 billion shares valued at N24.641 billion traded in 17,589 deals; thus contributing 70.95percent and 45.81percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 222.963 million shares worth N1.781 billion in 2,573 deals and the Services Industry, with a turnover of 93.820 million shares worth N528.510 million in 2,166 deals.

Trading in the top three equities namely Abbey Mortgage Bank Plc, Transnational
Corporation Plc and Access Holdings Plc (measured by volume) accounted for 621.814million shares worth N6.338 billion in 4,235 deals, contributing 25.13percent and 11.78percent to the total equity turnover volume and value respectively.