Stock market rises by 0.33% in week ended October 27

In the trading week ended Friday October 27, Nigeria’s equities market rose by 0.33 percent as investors positioned in value stocks as third quarter (Q3) earnings season commences.

Thirty-nine equities appreciated in price during the review week, higher than 28
equities in the preceding week. Forty-two equities depreciated in price, lower than
46 in the preceding week, while 76 equities remained unchanged, lower than 83 recorded in the preceding week.

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The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation appreciated to close the review week at 67,136.58 points and N36.885 trillion respectively.

All other indices finished higher with the exception of NGX Premium, NGX
Pension, NGX Insurance, NGX AFR Div. Yield, NGX MERI Growth, NGX Consumer Goods,
NGX Industrial Goods NGX Growth, NGX Sovereign Bond and NGX Pension Broad which depreciated by 0.01 percent, 0.18 percent, 1.12percent, 0.29percent, 0.47 percent, 0.04percent, 0.15percent, 0.25 percent, 3.56 percent and 0.06 percent respectively while the NGX ASeM index closed flat.

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The market recorded total turnover of 1.446 billion shares worth N25.418 billion in 28,933 deals, in contrast to a total of 1.496 billion shares valued at N24.284 billion that exchanged hands in the preceding week in 29,298 deals.

The Financial Services Industry (measured by volume) led the activity chart with 958.111
million shares valued at N14.371 billion traded in 13,270 deals; thus contributing 66.26percent and 56.54percent to the total equity turnover volume and value respectively.

The ICT Industry followed with 129.251 million shares worth N972.593 million in 2,722 deals and the Conglomerates Industry, with a turnover of 95.634 million shares worth N662.545 million in 1,664 deals.

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Trading in the top three equities – Access Holdings Plc, Fidelity Bank Plc and United
Bank for Africa Plc (measured by volume) accounted for 447.283 million shares worth
N6.568 billion in 4,877 deals, contributing 30.93percent and 25.84percent to the total equity turnover volume and value respectively.