Market capitalisation grew from N66.4 trillion to N66.6 trillion as the Nigerian equities market maintained its recovery from a three-week long losing streak in April.
The market recorded another profit-making in the just concluded trading week as investors gained ₦183 billion over the week.
Investors equally recorded a gain of N966 billion the previous week.
During the trading week, the equities market opened for four days, gaining in two and losing in two of the trading sessions.
The trading week started on a positive note, with gains recorded on Monday.
But modest pullbacks followed on Tuesday and Wednesday.
While the market took a break for Thursday’s public holiday, the index rebounded strongly on Friday, closing above the significant 106,000 mark and confirming sustained bullish momentum.
Market capitalisation grew from N66.4 trillion to N66.6 trillion, reflecting strong positive sentiment and upward price movements in key stocks.
Similarly, the All-Share Index (ASI) appreciated by 0.27% to close the week at 106,042.57 points from 105,752.61 points recorded the previous week.
Despite the index’s gain, market breadth slightly narrowed.
Fifty-two equities recorded price gains during the week, compared to 64 in the previous week.
On the other hand, 37 stocks declined in value, an increase from 27 in the prior week.
A total turnover of 2.200 billion shares worth N75.409 billion in 70,329 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.854 billion shares valued at N56.025 billion that exchanged hands last week in 51,386 deals.
As usual, the Financial Services (measured by volume) led the activity chart with 1.432 billion shares valued at N30.908 billion traded in 33,095 deals; thus contributing 65.09% and 40.99% to the total equity turnover volume and value respectively.
The ICT industry followed with 230.248 million shares worth N27.453 billion in 4,811 deals.
In third place was the Consumer Goods Industry, with a turnover of 166.345 million shares worth N4.708 billion in 8,284 deals.
Trading in the top three equities namely Fidelity Bank Plc., Access Holdings Plc. and United Bank for Africa Plc (measured by volume) accounted for 704.639 million shares worth N16.757 billion in 10,466 deals, contributing 32.03% and 22.22% to the total equity turnover volume and value respectively.
Fifty-two equities appreciated in price during the week, lower than sixty-four (64) equities in the previous week. Thirty-seven (37) equities depreciated in price, higher than twenty-seven (27) in the previous week, while fifty-nine (59) equities remained unchanged, higher than fifty-seven (57) recorded in the previous week.
Associated Bus Company Plc. recorded the biggest share price increase in percentage gaining 44.87% followed by Legend Internet Plc which increased its share price by 32.40% in the process.
Fidson Healthcare Plc. also increased its share price by 22.85%. On the flip side, Ecobank Transnational Incorporated Plc. recorded the biggest decline in share prices by percentage shedding 18.75% followed by Multiverse Mining And Exploration Plc., which shed 18.59% of its share prices.
Source: Daily Trust
