Nigerian Exchange records N8.66 trillion weekly gain amid increased trading
via Punch Nigeria2 min read
The Nigerian Exchange Limited experienced a significant weekly performance, with investors gaining N8.661 trillion due to heightened trading activity. Market capitalization increased by 6.60 percent, rising from N131.166 trillion to N139.827 trillion. The NGX All-Share Index also climbed by 6.57 percent, reaching 217,167.57 from 203,770.43 the previous week. A total turnover of 3.588 billion shares, valued at N195.313 billion, were traded in 254,553 deals, surpassing the 3.361 billion shares worth N151.948 billion exchanged in 229,442 transactions in the preceding week. The Financial Services Industry led sectoral activity, contributing 69.62 percent to total equity turnover volume and 48.13 percent to value. The Services Industry and Oil and Gas Industry followed in activity. Trading in Sterling Financial Holdings Company Plc, Access Holdings Plc, and Zenith Bank Plc accounted for a substantial portion of the total turnover volume and value. Sixty-one equities appreciated during the week, while 36 declined, and 49 remained unchanged. Top gainers included Trans-Nationwide Express Plc and Ecobank Transnational Incorporated, among others. Conversely, Coronation Insurance Plc and Ikeja Hotel Plc were among the top losers. The exchange also activated codes for rights issues by Guinea Insurance Plc, Lasaco Assurance Plc, and Sunu Assurances Nigeria Plc, enabling investors to trade in these offers.
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