Last week, investors made over N1.14 trillion thanks to strong mood on the Nigerian Exchange Limited.
The market capitalization rose to N64.303 trillion, while the All-Share Index gained 1.80%, ending at 105,451.06 points last week.
In comparison to the 2.618 billion shares worth N69.742 billion that were moved in 47,953 deals the week before, a total turnover of 4.698 billion shares worth N85.043 billion was traded in 72,562 deals.
With 3.470 billion shares valued at N40.791 billion traded in 34,364 transactions, the Financial Services Sector topped the activity list by volume. This accounted for 73.86 percent of the overall equity turnover volume and 47.97 percent of its value. The ICT sector registered 237.680 million shares worth N3.628 billion in 5,280 deals, while the services sector came in second with 407.032 million shares valued at N2.226 billion in 4,996 deals.
Last week, Wema Bank Plc, FBN Holdings Plc, and Universal Insurance Plc were the top traders, accounting for 4,922 transactions totaling 1.679 billion shares valued at N20.838 billion. This accounted for 24.50% of the total value and 35.74% of the total equity turnover volume.
In terms of price performance, 51 stocks saw gains over the week, which was less than the 82 that were seen the week before. 39 stocks lost value, up from 18 the previous week, and 62 stocks stayed the same, up from 52 the week before.
Multiverse Mining and Exploration Plc was the biggest gainer, rising 53.42 percent to close at N12.35 from N8.05. Daar Communications Plc saw a 25.71 percent boost to conclude at N0.88, while Honeywell Flour Mill Plc gained 31.67 percent to close at N10.02.
SUNU Assurances Nigeria Plc, on the other hand, led the decliners with a loss of 36.52%, closing at N7.30 from N11.50. Consolidated Hallmark Holdings Plc and Caverton Offshore Support Group Plc both had 15% declines, closing at N2.38 and N3.40, respectively.
Furthermore, as investors managed the interaction of inflationary pressures, economic data, and shifting central bank policy expectations, global equity markets displayed erratic performance last week. Both the jobs report and the ongoing inflationary worries had a negative impact on the U.S. stock market in the developed world.
According to Newsline, the All-Share Index increased 1.25 percent to close at 105,530.74 points on Thursday, up from 104,230.73 points, marking a good close for the Nigerian Stock Exchange.
The market capitalization increased by N793 billion, closing at N64.351 trillion, in tandem with the ASI’s gain.
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