Equity investors saw N8 billion gain in one week

The recent bullish trading on the Nigerian Exchange Limited slowed this past week, resulting in a gain of N8 billion for investors.

Trading on the NGX began on a positive note, increasing to N35.539tn on Monday, with market capitalization ending at N35.994tn on the previous Friday.

After the announcement of an increase in the Monetary Policy Rate to 18.50%, it increased to N35.932tn on Tuesday before falling steadily over the following three trading sessions, ending the day at N35.402tn.

The market capitalization and NGX All-Share Index both saw minor increases of 0.02 percent.

Similar to that, all other indices also ended higher, with the exception of the NGX Main Board, NGX CG, NGX Banking, NGX Insurance, NGX AFR. Bank Value, NGX AFR. Div. Yield, NGX MERI Value, NGX Consumer Goods and NGX Industrial Goods Indices, which declined by 0.16 percent, 0.90 percent, 1.60 percent, 2.20 percent, 1.78 percent, 0.65 percent, 2.

Last week, investors transacted a total of 2.854 billion shares worth N37.645 billion in 41,547 deals on the floor of the NGX, down from a total of 4.182 billion shares worth N99.048 billion in 41,446 deals the week before.

With 1.936 billion shares worth N27.704 billion traded in 20,839 deals, the Financial Services Industry (as measured by volume) topped the activity chart, accounting for 67.84 percent and 73.59 percent of the total volume and value of equity turnover.

With 3,252 transactions totaling 328.578 million shares worth N2.073 billion, the oil and gas sector came in second. With 2,139 transactions totaling 156.660 million shares worth N692.091 million, the Conglomerates Industry came in third.

Trading in the top three stocks, FBN Holding Plc, Japaul Gold & Ventures Plc, and United Bank for Africa Plc, contributed 34.62 and 35.27 percent of the total equity turnover volume and value, respectively, with 988.076 million shares worth N13.278 billion traded in 5,887 deals.

39 stocks increased in value this week, which is fewer than the 73 stocks that increased in value the week before. The number of stocks that declined increased to 54 from 19, while the number of stocks that remained unchanged decreased to 62 from 64 the week before.

Skyway Aviation, which increased by 43.83 percent to close at N23.30, and Lasaco Assurance, which increased by 26.88 percent to close at N2.03, are among the week’s gainers. Nascon Allied Industries increased its value by 24.14 percent, FTN Cocoa processors increased its value by 23.50 percent, and Japaul Gold increased its value by 21.43 percent to close at N1.02.

Cadbury Nigeria, which lost 26.76% to close trading at N12.45, John Holt, which lost 23.08% to close at N2.20, and Multiverse, which lost 19.68% to close at N2.98 are all on the list of the week’s losers. Nigerian Breweries shares declined by 16.38% to close at N36.50, while paper manufacturer Thomas Wyatt saw a 17.20% decline in share value to close at N1.30.