Investors gain N636bn as consumer goods outshine banking stocks

Trading at the floor of the Nigerian Exchange Limited sustained a bullish momentum last week, as investors smiled to the banks with N636bn.

NGX All-Share Index and market capitalisation appreciated by 2.43 per cent to close at 49,638.84 basis points and N26.76tn respectively, bringing the month-to-date performance to +5.69 per cent and a year-to-date gain of 16.21 per cent.

The consumer goods industry led the activity chart with 6.26 billion shares valued at N29.31bn in 5,225 deals, and contributed 76.28 per cent and 59.64 per cent to the total equity turnover volume and value respectively.

Losing first place, the financial services industry traded 1.30 billion shares worth N9.13bn in 11,551 deals, while the conglomerates industry traded a turnover of 247.48 million shares worth N334.89m in 1,348 deals.

Honeywell Flour Mills, FCMB Group and Transcorp topped the week’s trading volume, accounting for 6.92 billion shares worth N27.95bn in 2,237 deals and contributed 84.39 per cent and 56.87 per cent to the total equity turnover volume and value respectively.

A total of 8.21 billion shares valued at N46.15bn were traded in the week under review in 28,622 deals, higher than the 1.30 billion units of shares valued at N17.81bn that exchanged hands in the week before in 20,212 deals.

Most sectors tracked closed in the green amid sustained buy pressure. Notably, the consumer goods, oil and gas, industrial goods and NSE30 indices increased by 6.35 per cent, 10.20 per cent 0.51 per cent, and 2.11 per cent to close at 618.11 points, 524.38 points, 2185.25 points, and 1,886.26 points respectively.

Meyer, Academy, Cadbury, Champion and UACN Property Development Company led the gainers’ table, as their share prices increased by 28.76 per cent, 25.64 per cent  22.02 per cent, 21.15 per cent and 20.22 per cent, to close at N3.00, N1.47, N10.25, N2.52 and N1.07.

Meanwhile, analysts expect the NGX stock market index to rise further in the new week, with hope that investors buy more shares in anticipation, as quoted companies continued to release first quarter financial statements.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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