By Adeyemi David
The Nigerian Exchange Ltd. (NGX) recorded a bullish performance last week as the All-Share Index and market capitalisation rose by 3.84 per cent to close at 171,727.49 points and N110.235 trillion respectively.
The latest figures marked an increase from the previous week’s close of 165,370.40 points and N106.153 trillion, translating to a gain of N4.082 trillion for investors within the review period.
Market sentiment remained largely positive, with all other indices finishing higher except the NGX Insurance Index, which declined by 2.33 per cent.
Trading activity also strengthened during the week, with investors exchanging a total turnover of 3.860 billion shares valued at N128.581 billion in 240,463 deals.
This represented an improvement over the 3.087 billion shares worth N81.505 billion traded in 222,185 deals the prior week.
The Financial Services Industry dominated market activity, accounting for 2.188 billion shares valued at N50.459 billion in 94,005 deals.
The sector contributed 56.68 per cent to total equity turnover volume and 39.24 per cent to value.
It was followed by the Services Industry with 466.771 million shares worth N4.495 billion in 18,526 deals, while the ICT Industry posted a turnover of 377.800 million shares valued at N9.049 billion in 25,653 deals.
Trading in the shares of Chams Holding Company Plc, Access Holdings Plc, and Universal Insurance Plc stood out, jointly accounting for 664.942 million shares valued at N6.801 billion in 15,161 deals.
The trio contributed 17.23 per cent and 5.29 per cent to the total equity turnover volume and value respectively.
Market breadth improved significantly as 71 equities appreciated in price during the week, surpassing the 44 gainers recorded previously.
Meanwhile, 35 equities declined, lower than 49 in the preceding week, while 42 equities closed unchanged compared with 55 earlier recorded.
Among the top gainers were RT Briscoe, Zichis Agro Allied Industries, Abbey Mortgage Bank, Union Dicon Salt, and Austinlaz, which advanced by N4.77, N2.53, N5.55, N4.30, and N1.50 respectively.
On the losers’ chart were Deap Capital Management, Union Homes Real Estate Investment Trust, Red Star Express Plc, UPDC Real Estate Investment Trust, and Cornerstone Insurance, shedding N2.57, N25.60, N3.65, N1.10, and 76 kobo respectively.
Overall, the week closed on a strong note, reflecting renewed investor confidence and sustained buying interest across key sectors of the Nigerian equities market.
