Nigerian Stock Market Sees N130bn Share Trades, Reaches N106trn Cap

The Nigerian Exchange (NGX) recorded a turnover of 4.6 billion shares valued at N130.63 billion in 263,439 deals between January 12 and January 16. According to the NGX stock market weekly report, the turnover figure increased by 38.93 percent compared with the previous week, when investors traded 4.16 billion shares worth N94.02 billion in 248,254 deals. The NGX also said market capitalisation appreciated by 2.48 percent to N106.35 trillion during the week, up from N103.77 trillion recorded in the previous week. The report attributed the increase to a 2.36 percent rise in the all-share index (ASI), which climbed from 162,298.08 points to 166,129.50 points. TOP PERFORMING SECTORS The financial services industry led the market by volume of shares traded, with investors exchanging 3.12 billion shares valued at N47.22 billion in 94,186 deals. The NGX report said the sector contributed 67.84 percent and 36.15 percent to the total equity turnover volume and value, respectively. The services industry followed, recording 353.43 million shares worth N5.09 billion in 17,764 deals. In third place was the ICT industry, which posted a turnover of 277.26 million shares valued at N18 billion across 28,525 deals. TOP THREE EQUITIES The top three trading equities during the period under review were Sovereign Trust Insurance Plc, Access Holdings Plc, and Linkage Assurance Plc. Measured by volume, the three equities accounted for 1.4 billion shares worth N9.73 billion in 11,732 deals. The NGX said they contributed 30.52 percent to the total equity turnover volume and 7.45 percent to the total value. TOP GAINERS OF THE WEEK NCR (Nigeria) Plc’s share price increased by N48.6 kobo to close the week at N128.55 kobo, up from N79.95 kobo. SCOA Nigeria Plc’s share price rose to N14.9 kobo from N9.35 kobo, gaining N5.55 kobo. Deap Capital Management and Trust Plc also gained, with its share price rising by N1.46 kobo to close at N4.46 kobo, compared with an opening price of N3. Jaiz Bank Plc’s shares appreciated by N2.57 kobo to close at N8.19 kobo per share, up from N5.62 kobo. Similarly, Omatek Ventures Plc ended the week at N1.77 kobo per share, up from N1.28 kobo, reflecting a gain of N0.49 kobo. Advertisement TOP DECLINERS OF THE WEEK On the losers’ chart, Ikeja Hotel Plc lost N4.95 kobo to close at N35.05 kobo, compared with its opening price of N40. Advertisement Austin Laz and Company Plc lost N0.38 kobo to close at N3.75 kobo per share, down from N4.13 kobo. Eterna Plc share value declined to N32.30 kobo per share, losing N2.7 kobo from its opening price of N35. Universal Insurance Plc’s share price dropped from N1.3 kobo to N1.2 per share, representing a loss of N0.1 kobo over the five-day trading period. Eunisell Interlinked Plc also recorded a loss of N12.85 percent, as its share price fell to N156.95 kobo from N169.80 kobo.