Trading at the floor of the Nigerian Exchange Limited ended on a positive territory, for the fourth consecutive week.
The NGX All-Share Index rose week-on-week by 0.54 per cent to close at 46,205.05 basis points. Also, the market capitalisation appreciated by 0.55 per cent to close at N24.76tn, as investors gained N137.26bn.
Amid the positive sentiment and sustained bargain hunting, the relatively positive corporate entities’ unaudited financial results released, as well as the Monetary Policy Committees’ decision to keep interest rate unchanged at 11.50 per cent, analysts said, stimulated investors’ interest.
Ecobank Transnational’s share price topped the gainers’ chart to close 45 per cent higher at N13.10 amid financial services performance.
This was followed by the share prices of Academy Press, Courteville Business Solutions, International Breweries, Guinness Nigeria and NPF Microfinance Bank, which appreciated by 42 per cent, 30 per cent, 18 per cent, 14 per cent and 13 per cent respectively.
Of the indices tracked, the banking, oil and gas and consumer goods rose by 4.84 per cent, 3.53 per cent and 2.04 received respectively to close at 439.44bps, 392.55bps points and 575.99kps points respectively, while the industrial index and the insurance index lost 5.12 per cent and 3.12 per cent to close at 2,066.63bsps and 186.69bps respectively.
A total turnover of 1.448 billion shares worth N19.08bn in 22,557 deals was experienced in the reviewed week by investors, in contrast to 1.858 billion shares valued at N47.49bn that exchanged hands, the week before, in 20,861 deals.
Measured by volume, the financial services industry led the activity chart with 793.12 million shares valued at N8.15bn in 10,947 deals, and contributed 54.77 per cent and 42.72 per cent to the total equity turnover volume and value respectively.
While the Information and Communications Technology industry followed with 215.543 million shares worth N3.74bn in 1,468 deals, the conglomerates industry recorded a turnover of 98.299 million shares worth N190.25m in 889 deals.
Measured by volume, Guaranty Trust Holding Company, Courtville Business Solutions and Chams Plc accounted for 308.076 million shares worth N2.87bn in 2,225 deals of the equities traded and contributed 21.27 per cent and 15.05 per cent to the total equity turnover volume and value respectively.
Analysts are of the view that in the new week, the equities market will continue to sustain its bullish momentum, as corporate entities continue to churn out their unaudited full year 2021 financial results.
