Stock market rises by 1.06% in week ended March 3

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation appreciated by 1.06percent to close the week ended Friday March 3 at 55,529.21points and N30.250 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX Oil and Gas index which depreciated by 2.36percent, while the NGX Sovereign Bond and NGX ASeM indices closed flat.

Fifty-three equities appreciated in price during the review week higher than 39 equities in the preceding week. Twenty-one equities depreciated in price lower than 22 in the preceding week, while 83 equities remained unchanged, lower than 96 equities recorded in the preceding week.

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Investors exchanged1.910 billion shares worth N18.436 billion in 20,311 deals in contrast to a total of 799.848 million shares valued at N29.354 billion that exchanged hands the preceding week in 14,194 deals.

The ICT Industry (measured by volume) led the activity chart with 601.396 million shares valued at N2.676 billion traded in 1,607 deals; thus contributing 31.49percent and 14.52percent to the total equity turnover volume and value respectively.

The Financial Services Industry followed with 585.510 million shares worth N6.949 billion in 8,584 deals and the Services Industry, with a turnover of 349.215 million shares worth N2.402 billion in 512 deals.

Trading in the top three equities namely Chams Holding Company Plc, Capital Hotels Plc and Transnational Corporation Plc (measured by volume) accounted for 1.038 billion shares worth N2.621 billion in 769 deals, contributing 54.33percent and 14.22percent to the total equity turnover volume and value respectively.