By Seun Ibiyemi
Investors on the Nigerian Exchange (NGX) traded a total of 3.64 billion shares valued at N220.56 billion during the week, representing a significant increase in turnover value amid renewed buying interest across key sectors of the market.
According to the NGX weekly market report, the value of transactions surged by 42.9 per cent compared with the 3.82 billion shares worth N154.39 billion exchanged in 258,567 deals in the preceding week.
The market sustained its bullish momentum as market capitalisation appreciated by 6.35 per cent to close at N156.44 trillion, while the All-Share Index (ASI) advanced by the same margin to settle at 243,798.76 basis points.
The financial services sector dominated trading activities, accounting for 2.89 billion shares valued at N147.36 billion in 106,603 deals.
PThe sector contributed 79.48 per cent and 66.81 per cent to the total equity turnover volume and value, respectively.
The services sector followed with 164.91 million shares worth N3.61 billion traded in 16,375 deals, while the consumer goods sector ranked third with 157.45 million shares valued at N7.77 billion exchanged in 27,950 deals.
Market activity was driven largely by First Holdco Plc, Zenith Bank Plc and Fidelity Bank Plc, which emerged as the most traded equities by volume.
The three companies accounted for 1.74 billion shares worth N121.82 billion in 31,053 deals, representing 47.85 per cent and 55.23 per cent of the total turnover volume and value, respectively.
On the gainers’ table, International Breweries Plc led the pack after its share price appreciated by N3.80 to close at N13.30 per share, representing a 40 per cent increase from N9.50 recorded at the beginning of the week.
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RT Briscoe Plc followed with a gain of 32.02 per cent, as its share price rose by N3.25 to close at N13.40 from N10.15. Livestock Feeds Plc also posted strong gains, appreciating by N2.05 to close at N9.25 per share.
Similarly, First Holdco Plc gained N14.20 to close at N69.20 from N55, while Abbey Mortgage Bank Plc advanced by N1.75 to settle at N9.15 per share.
However, some equities closed the week in negative territory. McNichols Plc recorded the steepest decline, shedding N2 to close at N5 per share from N7, representing a loss of 28.57 per cent.
Thomas Wyatt Nigeria Plc also declined by N0.32 to close at N2.43 per share, while Geregu Power Plc lost N91.70 to end the week at N825.70 from N917.40.
CAP Plc and Guinness Nigeria Plc were also among the laggards, with their share prices falling to N157.60 and N329 per share, respectively.
