42 Stocks Drive 1.46% NGX Growth in One Week

By Dipo Olowookere

The All-Share Index (ASI) and the market capitalisation of the Nigerian Exchange (NGX) Limited appreciated by 1.46 per cent last week to 99,587.25 points and N56.323 trillion, respectively.

Also, every other sector improved in the four-day trading week except the consumer goods, energy, and industrial goods indices, which experienced selling pressure, closing lower by 0.26 per cent, 0.68 per cent and 0.36 per cent apiece, as the ASeM and sovereign bond indices closed flat.

Business Post reports that the growth posted by the benchmark performance indicators was driven by price appreciation in 42 stocks led by FBN Holdings, which grew by 32.68 per cent to N27.00.

Sterling Holdings rose by 27.75 per cent to N4.88, UAC Nigeria improved by 24.60 per cent to N15.45, Julius Berger appreciated by 23.76 per cent to N72.40, and Flour Mills soared by 20.66 per cent to N36.80.

Conversely, NASCON lost 17.03 per cent to close at N43.60, University Press went down by 16.67 per cent to N2.05, Neimeth fell by 14.14 per cent to N1.70, Berger Paints shrank by 9.87 per cent to N13.70, and Vitafoam declined by 9.81 per cent to N17.00.

Data showed that the number of price gainers for the week was 42 versus 27 in the preceding week, the price losers’ chart had 36 equities last week versus 43 equities a week earlier, and 76 shares closed flat compared with 84 shares in the previous week.

A total of 1.941 billion shares worth N32.644 billion exchanged hands in 35,807 deals during the week compared with 1.839 billion shares valued at N34.258 billion traded in 37,528 deals in the preceding week.

The financial services industry led the activity chart with 1.496 billion equities worth N22.453 billion in 19,225 deals, contributing 77.08 per cent and 68.78 per cent to the total trading volume and value, respectively.

It was trailed by the consumer goods space with 144.722 million stocks worth N5.063 billion in 4,966 deals, and the cconglomerates sector with 109.978 million shares valued at N1.539 billion in 2,064 deals.

Abbey Mortgage Bank, GTCO, and Access Holdings accounted for 898.940 million equities worth N14.314 billion in 5,518 deals, contributing 46.31 per cent and 43.85 per cent to the total trading volume and value apiece.