NGX ASI close in green as investors gain N1.24tn

The Nigerian Exchange Limited All-Share Index and market capitalisation appreciated by 1.07 per cent to close at 42,716.44 and N22.297tn respectively, last week.

Meanwhile, the NGX ASI and market cap rose 6.07 per cent and 5.59 per cent Year-on-Year from 40,270.72 and N21.057tn respectively, leaving investors with a gain of N1.24tn YoY.

Of the stocks traded during the reviewed week, 37 appreciated in price higher than 33 equities in the week before. While 21 equities depreciated in price, 99 remained unchanged.

The market had traded for three days, as the Federal Government of Nigeria declared December 26 and 27, 2021 as public holidays to mark the Christmas and Boxing Day celebrations.

A turnover of 995.361 million shares worth N13.209bn in 10,264 deals exchanged hands, in contrast to the 965.061 million shares valued at N12.455bn traded in the week before in 14,802 deals.  

Measured by volume, the financial services industry led the activity chart with 843.972 million shares valued at N5.885bn in 5,925 deals, and contributed 84.79 per cent and 44.55 per cent to the total equity turnover volume and value respectively. The conglomerates industry followed with 46.815 million shares worth N166.702m in 368 deals, while the construction/real estate industry, with a turnover of 27.276 million shares worth N107.509m in 315 deals followed. 

Jaiz Bank, FBN Holdings and Zenith Bank, measured by volume, accounted for 348.887 million shares worth N3.4193bn in 1,552 deals, and contributed 35.05 per cent and 25.88 per cent to the total equity turnover volume and value respectively. 

NEM Insurance topped the gainers’ chart, as its share price rose by 85.95 per cent to N4.50, followed by Regency Assurance, which share price appreciated by 18.60 per cent to close at 51 kobo. While the share price of Sovereign Trust Insurance rose by 15.38 per cent to 30 kobo, Coronation Insurance and Royal Exchange shares prices upped by 14.29 per cent apiece to close at 56 kobo and 88 kobo respectively.

Sectoral performance for the week showed that three of the five indices tracked closed in green. The consumer goods index rose by 6.24 per cent to close at 589.28 points, as N4.81bn worth of Nestle Nigeria shares exchanged hands on the last trading day (Friday, December 31).

While the banking and insurance indices gained 2.61 per cent and 1.88 per cent to close at 406.07 points and 198.11 points respectively, the industrial and oil and gas indices fell by 3.91 per cent and 1.09 per cent to close at 345.01 points and 2,008.30 points respectively.

“In the first of the New Year, we expect the local bourse to remain elevated, as investors position in readiness for dividend distribution in the first quarter of 2022,” said analysts at Cowry Asset Management in its review.

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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