Local stock market ended week positive with 0.63%

Shares trading on the Nigerian Exchange Limited (NGX) was bullish last week as the benchmark rose 0.63 percent in five days, after falling 0.59 percent in the previous week.

Equity investors therefore made N168 billion as the market cap settled at N26.797 trillion, up from a previous weekly close of N26.629 trillion. This positive weekly trading brings the month-to-date performance of the Nigerian stock market to -1.37 percent and a year-to-date gain of 16.31 percent.

Positive sentiments were driven abroad as the market turned upward, with winners outnumbered. 27 shares rose in price during the week under review, higher than 21 shares in the previous week. 38 shares fell in price lower than 41 in the previous week, while 91 shares remained unchanged lower than 94 shares recorded in the previous week

Industry analysis shows that all other indices finished lower, with the exception of NGX-Main Board, NGX 30 Index, NGX Insurance Index, NGX-AFR Bank Value and NGX Lotus II Indices, which were up 2.56 percent, 0.48 percent, 3.88 percent, 0.07 percent and 0.11 percent, while the NGX ASeM and growth indices closed flat.

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Total sales of 914.443 million shares worth N15.263 billion in 18,021 deals were traded by investors on the trading floor during the week, as opposed to a total of 823.005 million shares worth N12.228 billion sold last week. hand exchanged in 17,482 offers.

Financials, by volume, led the chart of activity with 723.125 million shares worth N5.209 billion, traded in 9,122 deals; thus contributing 79.08 percent and 34.13 percent to the total turnover volume and the value of equity, respectively. The Consumer Goods followed with 51.097 million shares worth N4.668 billion in 2,610 deals. Third place was the Conglomerates Industry, with sales of 36.089 million shares worth N72.383 million in 527 deals.

Trading in the top three stocks, namely Mutual Benefits Assurance Plc, FBN Holdings Plc and Access Holdings Plc, measured by volume, accounted for 325.818 million shares worth N1.758 billion in 1,897 deals, representing 35.63 percent and 11 .52 percent of total equity revenue volume and value respectively.

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Local stock market ended week positive with 0.63%

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Local stock market ended week positive with 0.63%

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