• Sunday, June 16, 2024
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BusinessDay

Stock market rises by 5.37% in week ended June 2

NGX lauds Neimeth for enhancing operations, restoring investor confidence

In the trading week ended Friday June 2, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation appreciated by 5.37percent to close at 55,820.50 points and N30.395 trillion respectively.

Similarly, all other indices finished the review trading week higher with the exception of NGX Growth which depreciated by 0.18percent while the NGX ASeM and NGX Sovereign Bond indices closed flat.
Sixty-six equities appreciated in price during the review trading week higher than 60 equities in the preceding week. Twenty-three equities depreciated in price higher than 21 in the preceding week, while 67 equities remained unchanged, lower than 75 recorded in the preceding trading week.

The market opened for four trading days as the Federal Government of Nigeria declared Monday May 29 as Public Holidays to commemorate the inauguration of the newly elected President of the Federal Republic of Nigeria.

The market recorded total turnover of 2.586 billion shares worth N46.643 billion in 35,122 deals, in contrast to a total of 1.963 billion shares valued at N33.899 billion that exchanged hands the preceding trading week in 30,827 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.890 billion shares valued at N23.041 billion traded in 17,806 deals; thus contributing 73.10percent and 49.40percent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 170.218 million shares worth N638.188 million in 1,830 deals, and the Consumer Goods Industry with a turnover of 132.432 million shares worth N3.837 billion in 4,938 deals.

Trading in the top three equities: Access Holdings Plc, United Bank for Africa Plc and FBN Holding (measured by volume) accounted for 915.908 million shares worth N10.916 billion in 6,575 deals, contributing 35.42percent and 23.40percent to the total equity turnover volume and value respectively.