Traders acquire N1.137trn as Wema, FBN, Universal lead — Every day Nigerian
The Nigerian Exchange Ltd., NGX All-Share Index and Market Capitalisation appreciated by 1.80 per cent every, to shut the week at 105,451.06 and N64.303 trillion respectively.
Theses are in opposition to 103,586.33 and 63.166 trillion posted final week.
Consequently, fairness traders gained a complete of N1.137 trillion for the week underneath overview.
Similarly, all different indices completed greater excluding NGX Insurance, NGX AFR Bank Value, NGX AFR Div Yield, NGX MERI Value, NGX Consumer Goods, NGX Oil and Gas.
Also, NGX Industrial Goods which depreciated by 6.91, 0.08, 1.11, 0.17, 0.34, 0.34 and 0.26 per cent respectively, whereas the NGX ASeM closed flat.
Meanwhile, a complete turnover of 4.698 billion shares value N85.043 billion in 72,562 offers was traded this week by traders on the ground of the Exchange.
This was in distinction to a complete of two.618 billion shares valued at N69.742 billion that exchanged palms final week in 47,953 offers.
The Financial Services Industry measured by quantity led the exercise chart with 3.470 billion shares valued at N40.791 billion traded in 34,364 offers: thus contributing 73.86 and 47.97 per cent to the whole fairness turnover quantity and worth respectively.
The Services business adopted with 407.032 million shares value N2.226 billion in 4,996 offers.
Third place was the ICT Industry, with a turnover of 237.680 million shares value N3.628 billion in 5,280 offers.
Trading in prime three equities specifically, Wema Bank Plc, FBN Holdings Plc and Universal Insurance Plc, measured by quantity accounted for 1.679 billion shares value N20.838 billion in 4,922 offers.
These contributed 35.74 per cent and 24.50 per cent to the whole fairness turnover in quantity and worth respectively.
Also, 51 equities appreciated in value in the course of the week, decrease than 82 equities within the earlier week.
Thirty-nine equities depreciated in value greater than 18 within the earlier week, whereas 62 equities remained unchanged, greater than 52 recorded within the earlier week.
Multiverse Mining and Exploration Plc, led 50 different superior equities on the gainers’ desk by 53.42 per cent to shut at N12.35 per share.
Sunu Assurances additionally led the 38 different declined equities on losers’ desk by 36.52 per cent to shut at N7.30 per share.
Looking forward, analysts at Cowry Asset Management Ltd., predicted bullish momentum on the fairness market to persist within the coming week.
The analysts mentioned this might be supported by anticipation of fourth quarter 2024 unaudited monetary outcomes and preparations for the dividend incomes season.
They famous that optimistic sentiment is prone to prevail as shares proceed to succeed in new historic highs, bolstered by beneficial market valuations and outlooks.
“Nonetheless, we advise investors to focus on fundamentally sound stocks to maximise returns amidst the ongoing rally,” the analysts mentioned.
NAN
