The recent growth performance of the stock market is linked to responsive actions taken by government.
The market opened for four trading days this week as the federal government June 12th June 2023 as Public Holiday to commemorate the Democracy Day.
The NGX All-Share Index and Market Capitalization appreciated by 5.49% to close the week at 59,000.96 and N32.126 trillion respectively.
A total turnover of 4.276 billion shares worth N62.176 billion in 44,344 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.196 billion shares valued at N45.971 billion that exchanged hands last week in 31,655 deals.
The Financial Services Industry (measured by volume) led the activity chart with 3.303 billion shares valued at N45.244 billion traded in 23,490 deals; thus contributing 77.26% and 72.77% to the total equity turnover volume and value respectively. The Oil and Gas Industry followed with 247.383 million shares worth N2.368 billion in 3,561 deals. The third place was the Consumer Goods Industry, with a turnover of 223.315 million shares worth N4.640 billion in 5,982 deals.
Trading in the top three equities namely United Bank for Africa Plc, Guaranty Trust Holding Company Plc and Access Holdings Plc (measured by volume) accounted for 1.475 billion shares worth N27.648 billion in 8,875 deals, contributing 34.50% and 44.47% to the total equity turnover volume and value respectively.
Seventy-seven (77) equities appreciated in price during the week higher than fifty-two (52) equities in the previous week. Twenty-four (24) equities depreciated in price lower than twenty-seven (27) in the previous week, while fifty-five (55) equities remained unchanged, lower than seventy-seven (77) recorded in the previous week.
Similarly, all other indices finished higher with the exception of NGX Industrial Goods and NGX Growth which depreciated by 1.63% and 1.07% respectively while the NGX ASeM index closed flat.
A total of 28.490 million units valued at N254.156 million were traded this week in 94 deals compared with a total of 4.550 million units valued at N57.651 million transacted last week in 116 deals.
A total of 46,043 units valued at N50.724 million were traded this week in 25 deals compared with a total of 125,410 units valued at N126.521 million transacted last week in 35 deals.
