Equities investors gain N376bn in 3 days as ASI adds 1.9% WoW

Despite the shortened trading week due to the public holidays on Tuesday and Wednesday, the bulls regained dominance of the market at the Nigerian Exchange Limited (NGX).

The All-Share Index advanced by 1.9 per cent w/w to close at 38,667.90 points. Accordingly, the Month-to-Date (MtD) gain rose to 2.0 per cent, while the Year-to-Date (YtD) loss moderated to -4.0 per cent.

Equities investors earn N376 billion during the three-day trade as the market capitalisation appreciated by 1.90 per cent to close the week at N20.147 trillion respectively.

Specifically, investors’ interest in Total, Guinness Nigeria and Dangote Cement were the primary drivers of the positive performance during the week under review as they appreciated in value by 21 per cent, 9.1 per cent and 7.8 per cent.
However, activity levels were weak, as trading volumes and value declined by -11.1 per cent Week-on-Week (WoW) and -52.1 per cent WoW, respectively.

Meanwhile, a total turnover of 896.174 million shares worth N5.235 billion in 11,714 deals were traded by investors on the floor of the Exchange, in contrast to a total of 1.008 billion shares valued at N10.923 billion that exchanged hands in 17,297 deals during the preceding week.

The Financial Services Industry, measured by volume, led the activity chart with 718.570 million shares valued at N3.009 billion traded in 6,223 deals; thus contributing 80.18 per cent and 57.48 per cent to the total equity turnover volume and value respectively.

The Consumer Goods followed with 46.437 million shares worth N948.489 million in 1,856 deals. The third place was Conglomerates Industry, with a turnover of 39.798 million shares worth N207.132 million in 366 deals.

Performance across sectors was broadly positive. Save for the Insurance index that closed in the red by 0.7 per cent; the Oil and Gas, Industrial Goods, Consumer Goods and Banking indices closed in the green by 7.5 per cent, 4.1 per cent, 0.6 per cent and 0 4 per cent.

Trading in the top three equities were Jaiz Bank Plc, Sterling Bank Plc and Fidelity Bank. They accounted for 369.879 million shares worth N385.516 million in 785 deals, contributing 41.27 per cent and 7.36 per cent to the total equity turnover volume and value respectively.

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