By Seun Ibiyemi
The Nigerian Exchange Limited (NGX) recorded a bullish performance last week, as investors gained N1.36 trillion following a 1.03 per cent rise in the All-Share Index.
Market data showed that the All-Share Index advanced to 203,770.43 points from 201,698.89 recorded in the previous week, while market capitalisation increased by 1.05 per cent to N131.166 trillion from N129.806 trillion.
Trading activities were conducted over four days, as the Federal Government declared April 6 a public holiday to mark Easter.
Despite the overall positive trend, sectoral performance was mixed, with all indices closing higher except the NGX Insurance and NGX Growth indices, which declined by 3.64 per cent and 1.82 per cent respectively.
A total turnover of 3.361 billion shares valued at N151.948 billion was recorded in 229,442 deals during the week, representing an improvement compared to 2.856 billion shares worth N113.597 billion traded in 215,287 deals in the preceding week.
The financial services sector dominated market activity, accounting for 2.303 billion shares valued at N90.467 billion in 98,175 deals, representing 68.54 per cent of total volume and 59.54 per cent of total value traded.
The services sector followed with 264.146 million shares worth N1.977 billion in 12,638 deals, while the ICT sector ranked third with 214.578 million shares valued at N9.791 billion in 28,183 transactions.
Trading in Access Holdings Plc, Wema Bank Plc and Guaranty Trust Holding Company Plc dominated the week’s activity, accounting for 1.124 billion shares worth N49.451 billion in 27,886 deals.
This represented 33.45 per cent of total volume and 32.54 per cent of total value traded.
Market breadth closed negative, as 25 equities recorded gains, lower than 29 in the previous week, while 54 equities declined compared to 57 earlier. However, 67 equities remained unchanged, higher than 62 recorded previously.
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Top gainers for the week included Trans-Nationwide Express Plc, Nigerian Exchange Group Plc, Guaranty Trust Holding Company Plc, Nascon Allied Industries Plc and Guinness Nigeria Plc.
On the losers’ chart were Daar Communications Plc, RT Briscoe Plc, Deap Capital Management & Trust Plc, Ellah Lakes Plc and JaPaul Gold & Ventures Plc.
Meanwhile, the NGX announced the delisting of DN Tyre and Rubber Plc and Greif Nigeria Plc, effective April 9, following their failure to meet listing standards.
It also disclosed that 1.06 billion ordinary shares of 50 kobo each of Access Holdings Plc were listed on April 8, further boosting market liquidity.
