At the close of the week’s trading session, the Nigerian Exchange Limited All-Share Index and market capitalisation appreciated by 4.25 per cent to close at 53,098.46 basis points and N28.63tn respectively, leaving investors with a gain of N1.17tn.
Notable stocks lifted the NGX to sustain five weeks consecutive gains. These included the McNichols Consolidated, Royal Exchange, Champion Breweries, International Breweries and Okomu Oil Palm, which topped the gainers’ table, as their share prices rose by 59.52 per cent, 51.49 per cent, 30.84 per cent, 30.37 per cent and 26.47 to close at N1.34, N1.53, N4.37, N8.80 and N215 respectively.
Sectoral performance was in the positive territory amid sustained buy pressure. Notably, the consumer goods, industrial goods, NGX30 and oil and gas indices increased by 5.38 per cent, 2.33 per cent, 5.72 per cent and 7.02 per cent to close at 698.32bps, 2,308.32bps, 2,060.70bps and 554.62bps respectively.
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A total turnover of 1.816 billion shares, worth N27.194bn in 36,286 deals was traded by investors in contrast to a total of 1,598 billion shares valued at N19.603bn that exchanged hands in the week before in 21,494 deals.
Measured by volume, the financial services industry led the activity chart with 904.860 million shares valued at N8.498bn traded in 12,883 deals and contributing 49.82 per cent and 31.25 per cent to the total equity turnover volume and value respectively.
Followed by the conglomerates industry with 263.830 million shares worth N540.313m in 1,651 deals, the consumer goods industry traded along with a turnover of 238.964 million shares worth N5.816bn in 7,635 deals.
Transnational Corporation, Guaranty Trust Holding Company and Jaiz Bank were the top three traded equities by volume, and accounted for 459,179 million shares worth N3.294bn in 3,645 deals, contributing 25.28 per cent and 12.11 per cent to the total equity turnover volume and value respectively.
“In the new week, we expect equities to trade higher as positive Q1 2022 financial results keep rolling out and also the continuous crash in the United States equities market will as well spur bullish sentiment on the local bourse,” analysts at Cowry Asset Management stated.
However, Academy Press, Ikeja Hotel, Guinness Nigeria and Tripple Gee and Company topped the losers’ table, declining by 13.71 per cent, 10.94 per cent, 10.91 per cent and 9.38 per cent to close at N1.51, N1.14, N98 and 0.87k respectively.
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