NGX posts weekly gains of N1.36 trillion as the All-Share Index rises 1.03 per cent, driven by strong activity in financial stocks and increased investor participation.
The Nigerian Exchange Ltd. recorded strong gains during the week, with the All-Share Index rising by 1.03 per cent to close at 203,770.43, while market capitalisation increased by 1.05 per cent to N131.166 trillion.
This represents an improvement from the previous week’s 201,698.89 points and N129.806 trillion market capitalisation, respectively, translating to a total gain of N1.360 trillion for investors.
Trading took place across four sessions during the week following the Federal Government’s declaration of Monday, April 6, as a public holiday for Easter.
All other indices closed higher, except NGX Insurance and NGX Growth, which declined by 3.64 per cent and 1.82 per cent respectively.
A total turnover of 3.361 billion shares valued at N151.948 billion was recorded in 229,442 deals during the week. This compares with 2.856 billion shares worth N113.597 billion exchanged in 215,287 deals in the preceding week.
The Financial Services Industry dominated trading activity, accounting for 2.303 billion shares valued at N90.467 billion in 98,175 deals. This represented 68.54 per cent of total volume and 59.54 per cent of total value traded.
The Services Industry followed with 264.146 million shares worth N1.977 billion in 12,638 deals, while the ICT Industry ranked third with 214.578 million shares valued at N9.791 billion in 28,183 transactions.
Trading in Access Holdings Plc, Wema Bank Plc, and Guaranty Trust Holding Company Plc drove market activity. The three equities accounted for 1.124 billion shares worth N49.451 billion in 27,886 deals, representing 33.45 per cent of total volume and 32.54 per cent of total value.
Market breadth closed negative as 25 equities gained, lower than 29 recorded in the previous week. Fifty-four equities declined compared with 57 in the prior week, while 67 equities remained unchanged, higher than 62 previously.
Top gainers included Trans-Nationwide Express, Nigerian Exchange Group, Guaranty Trust Holding Company, Nascon Allied Industries, and Guinness Nigeria, which appreciated by 93 kobo, N23, N13, N14, and N39.70 respectively.
On the losers’ chart were Daar Communications, RT Briscoe, Deap Capital Management, Ellah Lakes, and JaPaul Gold, shedding 41 kobo, N2.10, N1.01, N2, and 57 kobo respectively.
The NGX also announced the delisting of DN Tyre and Rubber Plc and Greif Nigeria Plc effective Thursday, April 9, following failure to meet listing standards.
Additionally, the exchange disclosed that 1.06 billion ordinary shares of 50 kobo each of Access Holdings Plc were listed on Wednesday, April 8.
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