• Monday, December 04, 2023
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Stock market rises by 1.29% in week ended August 25

Market opens week on a positive note

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation increased by 1.29 percent to close the week ended Friday August 25 at 65,558.91 points and N35.881 trillion respectively.

In the review trading week, all other indices finished higher with the exception of NGX CG, NGX Premium, NGX Banking, NGX AFR. Bank Value, NGX MERI Value, NGX Oil & Gas, NGX Industrial Goods and NGX Growth indices which depreciated by 1.63percent, 0.96percent, 3.57percent, 1.82percent, 0.71percent, 1.69percent, 0.01percent and 1.74percent respectively while the NGX ASeM and NGX Sovereign Bond indices closed flat.

Thirty-two equities appreciated in price during the review week higher than 29 equities in the preceding week. Forty-six equities depreciated in price lower than 56 in the preceding week, while 77 equities remained unchanged, higher than 70 recorded in the preceding week.

Read also: Financial institutions sector grows by 5.47% in Q2

The market recorded total turnover of 1.812 billion shares worth N29.299 billion exchanged in 31,163 deals by investors on the floor of the Exchange, in contrast to a total of 1.689 billion shares valued at N29.407 billion that exchanged hands in the preceding week in 29,477 deals.

The Financial Services Industry (measured by volume) led the activity chart with 936.685
million shares valued at N10.116 billion traded in 12,886 deals; thus contributing 51.68 percent and 34.53percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 461.589 million shares worth N2.333 billion in 3,451 deals; and the Consumer Goods Industry, with a turnover of 127.310 million shares worth N5.003 billion in 5,792 deals.

Trading in Transnational Corporation Plc, Fidelity Bank Plc and Access Holdings Plc (measured by volume) accounted for 693.533 million shares worth N5.030 billion in 5,450 deals, contributing 38.26percent and 17.17 percent to the total equity turnover volume and value respectively.