Stock market rises by 1.12% in week ended October 13

Nigeria’s equities market rose by 1.12percent in the trading week ended Friday, October 13 while investors booked about N409billion gain.

Industrial, consumer goods, insurance and oil & gas stocks were majorly on demand in the review trading week while banking stocks were seen offered by investors.

Thirty-eight equities appreciated in price during the review trading week lower than 40 equities in the preceding week. Thirty-three equities depreciated in price lower than 36 in the preceding week, while 86 equities remained unchanged, higher than
79 recorded in the preceding week.

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In line with analysts expectations of mixed trading sessions, the market recorded four days of positive closes as against a day of negative. The equities market’s year-to-date (YtD) postive return increased to +31.12 percent.

The stock market which had started the review trading week with All-Share Index (ASI) and equities capitalisation at 66,454.57 points and N36.510trillion respectively rose to 67,200.69 points and N36.919trillion as at Friday, October 13.

Oando Plc notified the investing public through the NGX that the Federal High Court, Lagos Division, had further adjourned the hearing of the petition filed on March 25, 2021 by 14 shareholders of the Company to November 28, 2023.

The market recored total turnover of 1.470 billion shares worth N24.431 billion in 29,683 deals, in contrast to a total of 2.410 billion shares valued at N22.115 billion that exchanged hands the preceding week in 27,965 deals.

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The Financial Services Industry (measured by volume) led the activity chart with 929.631
million shares valued at N12.948 billion traded in 13,626 deals; thus contributing 63.25percent and 53percent to the total equity turnover volume and value respectively.
The Healthcare Industry followed with 171.236 million shares worth N334.792 million in 452 deals and the Oil and Gas Industry, with a turnover of 90.156 million shares worth N5.099 billion in 2,769 deals.

Trading in the top three equities namely Access Holdings Plc, Neimeth International
Pharmaceutical Plc and Fidelity Bank Plc (measured by volume) accounted for 502.843 million shares worth N4.388 billion in 3,117 deals, contributing 34.21percent and 17.96percent to the total equity turnover volume and value respectively.