Stock investors in the Nigerian Exchange Limited gained N328.98bn as the equities rallied for the fifth consecutive week.
The NGX All-Share Index appreciated by 1.39 percent to close at 41,438.15 basis points last week from 40,868.36bps the previous week, while the market capitalisation grew by 1.54 percent to N21.63tn from N21.30tn.
All other indices on the NGX finished higher with the exception of NGX ASeM Index, which closed flat.
A total of 2.84 billion shares worth N31.65bn in 23,355 deals was traded last week by investors on the floor of the NGX, in contrast to a total of 2.18 billion shares valued at N21.96bn that exchanged hands in 22,438 deals the previous week.
Measuring investor activity by trading volume, the financial services industry led the activity chart with 2.43 billion shares valued at N26.44bn traded in 13,884 deals, thus contributing 85.56 percent and 83.54 percent to the total equity turnover volume and value respectively.
The consumer goods followed with 170.41 million shares worth N1.65bn in 3,350 deals, while the conglomerates’ industry came third with a turnover of 68.70 million shares worth N133.38m in 625 deals.
Measured by volume, trading in the top three equities, namely FBN Holdings Plc, Guaranty Trust Holding Company Plc, and Ecobank Transnational Incorporated Plc, accounted for 1.83 billion shares worth N23.37bn in 5,981 deals, contributing 64.61 percent and 73.84 percent to the total equity turnover volume and value respectively.
forty-five equities appreciated in price during the week, higher than 42 equities in the previous week; 15 equities fell as against 26 in the previous week, while 95 equities remained unchanged as against 87 in the previous week.
Champion Breweries Plc led the gainers with a 49.52 percent appreciation in its share price, closing at N3.14.
It was followed by FBN Holdings Plc with a 39.52 percent increase, closing at N12.70 per share.
Other top gainers during the week were Royal Exchange Plc (12.28 percent), Transcorp Hotels Plc (9.94 percent), and International Breweries Plc (9.89 percent).
Atop the losers’ chart was Learn Africa Plc as its share price declined by 18.71 percent to close at N1.05.
Ikeja Hotel Plc fell by 7.89 percent to N1.05 per share. Associated Bus Company Plc, University Press Plc, and Chams Plc lost 5.88 percent, 5.06 percent, and 4.35 percent respectively.
“The Nigerian equities market recorded its fifth consecutive weekly gain as strong buying interest in FBN Holdings (29.6 percent Okomu Oil Plc (8.2 per cent) and Guaranty Trust (3.5 per cent) drove the All-Share Index higher,” analysts at Cordros Capital said.