Investors’ Wealth at Stock Market Increases by N11bn

August 27, 2022
Investors’ Wealth

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited further recorded positive trading on Friday as the bourse closed 0.04 per cent higher. It was the third consecutive trading session the market closed bullish.

During the last trading session of the week, investors’ wealth expanded by N11 billion, leaving the market capitalisation of the exchange to swell to N26.797 trillion from N26.786 trillion.

Also, the All-Share Index (ASI) of the NGX increased by 20.28 points to settle at 49,682.15 points in contrast to the previous day’s 49,661.87 points.

Yesterday, the growth reported by the consumer goods and the energy sectors helped the market remain in the green territory as they respectively grew by 0.51 per cent and 0.16 per cent.

The banking, insurance and industrial goods counters witnessed profit-taking as they shed 0.67 per cent, 0.39 per cent and 0.01 per cent apiece.

The number of price losers increased on Friday to 15 from 11, though the price advancers were still more. A total of 18 stocks appreciated in value led by Japual, which gained 9.68 per cent to close at 34 Kobo.

Mutual Benefits appreciated by 7.14 per cent to 30 Kobo, FCMB rose by 5.96 per cent to N3.20,     Unity Bank chalked up 5.00 per cent to trade at 42 Kobo, while Academy Press improved by 4.39 per cent to N2.14.

Ellah Lakes ended the day on top of the losers’ chart after it dropped 10.00 per cent to trade at N3.60, Vitafoam lost 9.78 per cent to close at N20.30, NPF Microfinance Bank fell by 9.09 per cent to N1.50, Chams depreciated by 7.41 per cent to 25 Kobo, while Union Bank declined by 6.67 per cent to N5.60.

Traders bought and sold 193.5 million shares worth N4.6 billion in 3,307 deals during the session as against the 226.5 million shares worth N2.8 billion transacted in 3,515 deals a day earlier, representing an increase in the trading value by 67.93 per cent and a decline in the trading volume and number of deals by 14.55 per cent and 5.92 per cent respectively.

Jaiz Bank finished the session as the most active as it sold 45.9 million equities valued at N39.1 million and was trailed by FBN Holdings, which traded 25.0 million stocks for N271.0 million. Access Holdings transacted 18.9 million shares worth N154.9 million, NEM Insurance exchanged 11.1 million stocks for N51.5 million, while GTCO traded 9.3 million equities valued at N186.9 million.

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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