AfriPulse
September 21, (THEWILL) — The Nigerian Exchange (NGX) closed the week lower in turnover compared to the previous week. Investors traded 2.735 billion shares worth ₦85.197 billion, down from 3.188 billion shares valued at ₦99.685 billion recorded the prior week.
Market Activity by Sector
The Financial Services Industry led the activity chart with 1.909 billion shares valued at ₦37.834 billion in 56,026 deals, representing 69.79% of total equity turnover volume and 44.41% of value.
The ICT Industry followed with 184.870 million shares worth ₦6.189 billion in 12,893 deals.
The Services Industry ranked third with 176.506 million shares worth ₦813.252 million in 6,011 deals.
Trading in the top three equities—Abbey Mortgage Bank Plc, Fidelity Bank Plc, and United Bank for Africa Plc—accounted for 875.822 million shares worth ₦16.417 billion in 11,389 deals, representing 32.02% of total equity turnover volume and 19.27% of value.
Market Performance
The All-Share Index (ASI) advanced by 0.92%, closing at 141,845.35 points compared to 140,553.11 points the previous week.
Similarly, the Market Capitalisation grew to ₦89.744 trillion from ₦88.926 trillion in the prior week.
Gainers and Losers
40 equities appreciated, lower than 70 equities in the previous week.
Top gainers included:
Guinness Nig. Plc: ₦143.00 → ₦183.90 (+28.60%)
Multiverse Mining & Exploration Plc: ₦11.50 → ₦13.95 (+21.30%)
EUNISELL Interlinked Plc: ₦24.05 → ₦30.55 (+20.28%)
E-Tranzact Plc: ₦14.59 → ₦16.70 (+11.70%)
Chellaram Plc: ₦13.30 → ₦14.60 (+9.77%)
41 equities declined, higher than 22 in the previous week.
Notable losers included:
Omatek Ventures Plc: ₦1.32 → ₦1.08 (-18.18%)
Cornerstone Insurance Plc: ₦7.33 → ₦6.20 (-15.42%)
Secure Electronic Technology Plc: ₦0.86 → ₦0.75 (-12.79%)
Royal Exchange Plc: ₦2.30 → ₦2.04 (-11.30%)
UBA Plc: ₦48.70 → ₦44.02 (-9.24%)
66 equities prices remained unchanged in comparison to 55 in the previous week.
Index Performance
All sectoral indices finished higher except for:
NGX CG (-1.04%)
NGX Premium (-1.14%)
NGX Banking (-2.57%)
NGX Pension (-0.15%)
NGX Insurance (-4.67%)
NGX AFR Bank Value (-3.66%)
NGX AFR Div Yield (-1.74%)
NGX MERI Growth (-0.80%)
NGX MERI Value (-3.73%)
The NGX ASEM Index closed flat.
Bonds Market
A total of 44,730 units valued at ₦46.727 million were traded this week in 41 deals, compared to 24,228 units valued at ₦22.236 million in 34 deals last week.
Overall, the market closed the week on a mildly positive note, with the All-Share Index and Market Capitalization both advancing by 0.92%. The growth was largely fostered by renewed investor interest in select large-cap and fundamentally strong stocks, as well as price appreciation in key gainers such as Guinness Nig. Plc, Multiverse Mining & Exploration Plc, and Eunisell Interlinked Plc. These movements provided enough momentum to lift the headline indices despite a slowdown in overall market activity.
However, turnover volume and value declined compared to the previous week, and market breadth weakened as more equities recorded losses than gains. This mixed sentiment suggests that while investor appetite for opportunities in resilient sectors and undervalued stocks supported the week’s positive close, caution still prevailed across the broader market.
***Written by Ogochukwu Onwaeze.
Author Profile
Sam Diala, THEWILL
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
Source: TheWillNigeria | Read the Full Story…
