The All-Share Index at the Nigerian Exchange Limited bounced back last week, ending with 1.27 per cent increase.
Despite the Monday and Tuesday public holidays, the performance at the stock market closed positively when compared with the previous week’s report.
ASI and market capitalisation for the previous week was 0.53 per cent and 0.50 per cent. Appreciating by 1.27 per cent and 1.28 per cent, they closed the week at 52,215.12 and N28.158tn respectively.
Meanwhile, a turnover of 504.322 million shares worth N7.517bn in 12,393 deals was traded by investors on the floor of the Exchange, in contrast to penultimate week’s 822.404 million shares valued at N10.366bn in 20,643 deals.
The Financial Services Industry, measured by volume, led the activity chart with 270.549 million shares valued at N2.940bn in 5,730 deals; thus contributing 53.65 per cent and 39.11 per cent to the total equity turnover volume and value respectively.
The Services Industry followed with 74.980 million shares worth N168.626m in 954 deals. The third place was the Oil and Gas Industry, with a turnover of 42.664 million shares worth N262.001m in 798 deals.
Trading in the top three equities were Guaranty Trust Holding Company, Caverton Offshore Support Group and United Bank For Africa, accounting for 164.202 million shares worth N1.859bn in 1,937 deals, contributing 32.56 per cent and 24.73 per cent to the total equity turnover volume and value respectively.
According to the report for the week, all other indices finished lower, with the exception of the NGX-Main Board, NGX 30, NGX MERI Growth, NGX Oil/Gas and NGX Lotus II Indices, which appreciated at 3.38 per cent, 0.91 per cent, 0.30 per cent, 0.02 per cent and 0.60 per cent, while the NGX ASeM, NGX Growth and NGX Sovereign Bond Indices closed flat.
Twenty equities appreciated in price during the week, lower than 31 in the previous week; 32 depreciated in price higher than 26 in the previous week, while 104 remained unchanged higher than the 99 recorded in the previous week.
Commending the NGX performance for the week, finance analyst, Ogidiaka Ovie, said, “The trading period was short as a result of the Sallah celebration on Monday and Tuesday.
“However, the market performance led by the ASI and market capitalisation closed this week at 52,215.12 and N28.158tn respectively.
“We expect a beehive of activities next week, as trading begins on Monday and we hope the financial service industry continues with its stellar performance.”
