The Nigerian equities market (NGXASI) gained 0.66% week-on-week to close at 105,660.64 points, up from 104,962.96 points, breaking a four-week losing streak. The market’s rebound was driven by renewed investor interest in undervalued stocks, spurred by the release of strong corporate actions. Consequently, market capitalization rose by ₦437.50 billion to ₦66.23 trillion, pushing the year-to-date (YTD) return to 2.66%.
A total turnover of 7.52 billion shares worth N398.95 billion in 61,312 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.902 billion shares valued at N48.06 billion that exchanged hands last week in 57,044 deals. The Industrial Goods (measured by volume) led the activity chart with 4.923 billion shares valued at N332.00 billion traded in 2,969 deals; thus contributing 65.46% and 83.22% to the total equity turnover volume and value respectively. The Financial Services industry followed with 2.09 billion shares worth N31.74 billion in 32,421deals. Third place was the Services Industry, with a turnover of 198.78 million shares worth N788,67 million in 3,450 deals.
Trading in the top three equities namely LAFARGE AFRICA PLC, SOVEREIGN TRUST INSURANCE PLC and CUTIX PLC (measured by volume) accounted for 5.55 billion shares worth N332.38 billion in 1,300 deals, contributing 73.73% and 83.31% to the total equity turnover volume and value respectively.
Forty-three (43) equities appreciated in price during the week, higher than thirty-two (32) equities in the previous week. Thirty-six (36) equities depreciated in price, lower than forty- eight (48) in the previous week, while seventy-one (71) equities remained unchanged, lower than seventy (70) recorded in the previous week.
