Weekly wrap-up: Investors gain N1.83trn as NGX expands to N67.42trn

The Nigerian Exchange (NGX) rallied N1.83 trillion last week amidst bullish expectations as a new trading week opens today.

This was attributed to a strong rally that spanned four out of five trading sessions in the just concluded week.

The bullish momentum persisted for the second trading week in February, as the market index or the All-Share Index (ASI) advanced by 2.00% week-on-week to close at 108,053.95 points.

SPONSOR AD

A total turnover of 2.414 billion shares worth N55.512 billion in 80,988 deals was traded by investors on the floor of the exchange, in contrast to a total of 3.051 billion shares valued at N98.350 billion that exchanged hands in the previous week with 72,535 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.398 billion shares valued at N24.039 billion traded in 31,919 deals; thus contributing 57.92% and 43.30% to the total equity turnover volume and value respectively.

The Services industry followed with 247.303 million shares worth N1.165 billion in 6,277 deals. The Consumer Goods Industry came third with a turnover of 153.776 million shares worth N3.939 billion in 8,405 deals.

Trading in the top three equities, namely Sterling Financial Holdings Company Plc, Access Holdings Plc and Secure Electronic Technology Plc (measured by volume), accounted for 455.469 million shares worth N5.273 billion in 6,654 deals, contributing 18.87% and 9.50% to the total equity turnover volume and value respectively.