• Saturday, March 02, 2024
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Stock market rises by 0.12% in week ended May 5

Mixed sentiments trial stocks despite positive start to new week

In the trading week ended Friday May 5, Nigeria’s equities market rose by 0.12 percent amid sessions of profit taking and bargain hunting activities.

The market opened for four trading days as Monday May 1 was public holiday to mark the workers’ day celebration.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation appreciated to close the review week at 52,465.31 points and N28.568 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX Main Board, NGX 30, MERI Growth, and NGX Growth which depreciated by 0.61percent, 0.32percent, 0.62percent, and 8.96percent respectively while the NGX ASeM and NGX Sovereign Bond indices closed flat.

In the review trading week, 51 equities appreciated in price higher than 49 equities in the preceding week.

Twenty-six equities depreciated in price higher than 17 in the preceding week, while 79 equities remained unchanged, higher than ninety 90 recorded in the preceding week.

The market recorded total turnover of 2.973 billion shares worth N22.828billion traded in 23,765 deals by investors on the floor of the Exchange, in contrast to a total of 14.029 billion shares valued at N59.007 billion that exchanged hands the preceding trading week in 24,048 deals.

Read also: Stock market moves further south by 0.17%

The Financial Services Industry (measured by volume) led the week’s activity chart with 1.458 billion shares valued at N14.082 billion traded in 13,115 deals; thus contributing 49.04 percent and 61.69percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 1.254 billion shares worth N3.123 billion in 1,662 deals and the Consumer Goods Industry, with a turnover of 71.425 million shares worth N1.468 billion in 3,177 deals.

Trading in the top three equities namely Transnational Corporation Plc, Access Holdings Plc and Fidelity Bank Plc, (measured by volume) accounted for 2.074 billion shares worth N11.297 billion in 5,966 deals, contributing 69.76 percent and 49.49 percent to the total equity turnover volume and value respectively.