• Saturday, September 30, 2023
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Stock market rises by 1.51% in week ended May 26

Access, Oando, others cause market’s negative start to new week

In the trading week ended Friday May 26, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation appreciated by 1.51percent to close at 52,973.88 points and N28.845 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX Industrial Goods and NGX Growth which depreciated by 0.70percent and 1.33percent respectively while the NGX ASeM and NGX Sovereign Bond indices closed flat.

Sixty equities appreciated in price during the review week higher than 44 equities in the preceding week. Twenty-one equities depreciated in price lower than 27 in the preceding week, while 75 equities remained unchanged, lower than 85 recorded in the preceding trading week.

Read also: FBNQuest grows profit before tax by 312.5% despite economic challenges

The market recorded total turnover of 1.963 billion shares worth N33.899 billion in 30,827 deals, in contrast to a total of 3.029 billion shares valued at N33.626 billion that exchanged hands the preceding trading week in 29,505 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.463 billion shares valued at N18.028 billion traded in 15,593 deals; thus contributing 74.51percent and 53.18percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 111.180 million shares worth N371.360 million in 1,590 deals and the Consumer Goods Industry, with a turnover of 106.594 million shares worth N2.544 billion in 4,641 deals.

Trading in top three equities namely United Bank for Africa Plc, Access Holdings Plc and Zenith Bank Plc, (measured by volume) accounted for 800.611 million shares worth N11.751 billion in 7,351 deals, contributing 40.78percent and 34.66 percent to the total equity turnover volume and value respectively.