NGX ASI closes green first week of September

The Nigerian Exchange Group All-Share Index closed with profits in the first week of September.

Following a series of bearish trends in the previous month, the new month started with a bullish return, according to analysts.

The NGX ASI and market capitalisation appreciated by 0.73 per cent to close the week at 50,045.83 and N26.994tn respectively.

All other indices finished higher with the exception of NGX Growth Index, which depreciated by 0.51 per cent, while the NGX ASeM and NGX Sovereign Bond indices closed flat.

Forty-three equities appreciated in price during the week under review against 27 in the previous week. Twenty-one equities depreciated in price against 38 in the previous week, while 92 equities remained unchanged against penultimate week’s 91.

A turnover of 1.195 billion shares worth N12.924bn in 19,305 deals exchanged hands on the floor of the Exchange against 914.443 million shares valued at N15.263bn that exchanged hands the previous week in 18,021 deals.

The financial services industry (measured by volume) led the activity chart with 1.017 billion shares valued at N5.685bn in 10,107 deals; thus contributing 85.09 per cent and 43.99 per cent to the total equity turnover volume and value respectively.

The ICT industry followed with 37.063 million shares worth N4.57bn in 1,996 deals. The third place was the consumer goods industry with 35.184 million shares worth N1.209bn in 2,471 deals.

Trading in the top three equities namely Sterling Bank, Fidelity Bank and Access Holdings (measured by volume) accounted for 540.056 million shares worth N1.499bn in 2,179 deals, contributing 45.18 per cent and 11.60 per cent to the total equity turnover volume and value respectively.

Last week, 7,811 units valued at 837,295.25 exchanged hands in 25 deals against 6,968 units valued at N894,205.74 in 17 deals traded the previous week.

To end the week’s transaction, 28,192 units valued at N27.904 million traded in 11 deals against 17,470 units valued at N18.192m exchanged hands in 15 deals.

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