In the trading week ended Friday June 23, the Nigerian Exchange Limited (NGX) All-Share Index and Market Capitalisation increased by 0.34percent to 59,206.63 points and N32.237 trillion respectively.

In the review week, all other indices finished higher with the exception of NGX Lotus II which depreciated by 1.26 percent while the NGX ASeM index closed flat.

Sixty-two equities appreciated in price during the review week lower than 77 equities in the preceding week. Thirty-five equities depreciated in price higher than 24 in the preceding week, while 59 equities remained unchanged, higher than 55 recorded in the preceding week.

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The market recorded total turnover of 3.369 billion shares worth N41.986 billion in 39,764 deals, in contrast to a total of 4.276 billion shares valued at N62.176 billion that exchanged hands the preceding week in 44,344 deals.

The Financial Services Industry (measured by volume) led the activity chart with 2.515 billion shares valued at N23.030 billion traded in 19,895 deals; thus contributing 83.86percent and 66.06percent to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with 162.226 million shares worth N4.174 billion in 2,953 deals, and the Conglomerates Industry, with a turnover of 148.138 million shares worth N530.633 million in 1,962 deals.

Trading in the top three equities namely Universal Insurance Plc, United Bank for Africa Plc and Guaranty Trust Holding Company Plc (measured by volume) accounted for 865.658 million shares worth N12.138 billion in 4,786 deals, contributing 25.70 percent and 28.91percent to the
total equity turnover volume and value respectively.

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By Iheanyi Nwachukwu • June 26, 2023

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant 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.

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