53 Equities Lead Nigerian Exchange to 1.06% Week-on-Week Growth

March 6, 2023
Nigerian Exchange Limited

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited witnessed a week-on-week growth of 1.06 per cent last week, with the All-Share Index (ASI) and the market capitalisation finishing at 55,529.21 points and N30.250 trillion, respectively.

Similarly, all other indices finished higher except the energy index, which fell by 2.36 per cent, while the sovereign bond and the ASeM indices closed flat.

In the five-day trading week, the stock market recorded 53 appreciating equities, higher than the 39 achieved a week earlier, as 21 equities depreciated in price, lower than the 22 in the previous week, while 83 equities remained unchanged, lower than the 96 stocks recorded in the previous week.

Geregu Power topped the gainers’ chart after it appreciated by 27.45 per cent to N325.00, as C &I Leasing grew by 20.61 per cent to N3.98. McNichols expanded by 19.70 per cent to 79 Kobo, Sunu Assurances improved by 18.92 per cent to 44 Kobo, and Stanbic IBTC jumped by 18.84 per cent to N41.00.

On the flip side, Chams lost 10.71 per cent to finish the week at 25 kobo, Multiverse depleted by 10.00 per cent to N3.96, John Holt shed 9.66 per cent to quote at N1.59, Seplat declined by 9.43 per cent to N1,200.00, and Ecobank went down by 7.69 per cent to N12.00.

In the week, investors traded 1.910 billion shares worth N18.436 billion in 20,311 deals compared with the 799.848 million shares worth N29.354 billion traded in 14,194 deals a week earlier.

The ICT industry led the activity chart with 601.396 million shares valued at N2.676 billion traded in 1,607 deals, contributing 31.49 per cent and 14.52 per cent to the total trading volume and value, respectively.

The financial services sector followed with 585.510 million shares worth N6.949 billion in 8,584 deals, while the services counter exchanged 349.215 million shares worth N2.402 billion in 512 deals.

Chams, Capital Hotels, and Transcorp were the most traded stocks, with 1.038 billion shares worth N2.621 billion in 769 deals, contributing 54.33 per cent and 14.22 per cent to the total equity turnover volume and value, respectively.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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