Stock market gains N10bn as 28 firms rise

Stock market gains N10bn as 28 firms rise

Equity investors on the Nigerian Exchange Limited, formerly Nigerian Stock Exchange, gained N9.59bn at the end of trading on Friday with 28 companies recording growth in their share prices.

The NGX All-Share Index and market capitalisation appreciated by 0.05 per cent to close the week at 38,962.28 basis points and N20.30tn respectively from 38,943.87bps and N20.29tn the previous week.

All indices finished higher except NGX 30, NGX CG, NGX Banking, NGX Pension, NGX-AFR Bank Value, NGX AFR Div Yield, NGX MERI Value and NGX Consumer Goods indices which depreciated by 0.04 per cent, 0.36 per cent, 0.43 per cent, 0.05 per cent, 0.72 per cent. 0.50 per cent, 0.75 per cent and 0.04 per cent respectively, while the NGX ASeM, NGX Growth and NGX Sovereign Bond Indices closed flat.

A total turnover of 1.29 billion shares worth N13.92bn in 16,745 deals were traded this week by investors on the floor of the exchange, in contrast to a total of 856.29 million shares valued at N10.75bn that exchanged hands last week in 15,663 deals.

Measured by volume, the financial services industry led the activity chart with 978.172 million shares valued at N8.30bn traded in 8,716 deals, thus contributing 75.80 per cent and 59.62 per cent to the total equity turnover volume and value respectively. The consumer goods industry followed with 62.01 million shares worth N1.187bn in 2,546 deals. The third place was the conglomerates’ industry, with a turnover of 49.055 million shares worth N126.29m in 589 deals.

Twenty-eight equities appreciated during the week, higher than 21 equities in the previous week. Twenty-three equities depreciated, lower than 38 equities in the previous week, while 104 equities remained unchanged higher than 96 equities recorded in the previous week.

Pharma-Deko Plc led the gainers with a 32.10 per cent jump to close at N2.14 per share on Friday. Nigerian Aviation Handling Company Plc rose by 15.3 per cent to N3.50 per share. Other top gainers last week were; Conoil Plc (+14.09 per cent), Cornerstone Insurance Plc (+11.54 per cent), and Courteville Business Solutions Plc (+10.34 per cent).

Atop the losers’ chart was SCOA Nig. Plc with a 17.92 per cent drop in its share price to N0.87. Coming next was Presco Plc as its share price decreased by 8.18 per cent to close at N73.00. Neimeth International Pharmaceuticals Plc, Honeywell Flour Mill Plc, and Cutix Plc also saw major losses during the previous week.

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