• Investors gain N182bn in one week

    Investors gain n182bn in one week - nigeria newspapers online
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    The market capitalisation of the Nigerian Exchange Limited appreciated in the past week by N182bn following days of positive trading.

    At the close of the market on Friday, the market cap stood at N39.107tn while the All-Share Index moved up 264 basis points to close the week at 71,112.99.

    Similarly, all other indices finished higher with the exception of NGX Main Board, NGX Banking, NGX Industrial Goods and NGX Sovereign Bond which depreciated by 0.11 per cent, 0.04 per cent, 1.18 per cent and 0.27 per cent respectively while the NGX ASeM index closed flat.

    Despite the positive trading during the week under review, a total of 2.025 billion shares worth N27.69bn exchanged hands in 32,763 deals, which is lower than 2.525 billion units of shares worth N45.29bn that exchanged hands in the previous week 32,815 deals.

    Again, the Financial Services Industry (measured by volume) led the activity chart with 1.202 billion units of shares worth at N11.48bn traded in 12,775 deals; thus contributing 59.38 per cent and 41.46 per cent to the total equity turnover volume and value respectively. The Oil and Gas Industry followed with 328.656 million shares worth N3.16bn in 4,713 deals. Taking third place was the Services Industry, with a turnover of 131.249 million shares worth N539.75m in 2,263 deals.

    Stocks which were investors’ toast during the week included Japual Gold and Venture Plc, Fidelity Bank Plc and Jaiz Bank Plc. Measured by volume, the trio accounted for 488.181 million shares worth N1.97bn in 3,136 deals.

    In the trading week, 54 equities appreciated higher than 37 equities in the previous week while 30 equities depreciated lower than 43 in the previous week and 72 equities remained unchanged, lower than 75 recorded in the previous week.

    Top gainers include DEAP Capital Management and Trust Plc which gained 54.84 per cent to close at N0.48, C&I Leasing gained 49.55 per cent to close at N4.98 per unit, MeCure Industries gained 46.17 per cent to N5.73, Omatek gained 35.94 per cent to close N0.87 per unit and Northern Nigerian Flour Mills Plc gained 32.78 per cent to close at N23.90 per unit.

    On the decliners’ table were JapaulGold, which closed priced at N1.70 per unit after it dipped by 14.14 per cent. Beta glass lost 9.92 per cent to close at N54 per unit, The Initiates Plc lost 9.80 per cent to close at N0.92, Red Star Express Plc lost 8.54 per cent to close at N3 per unit and Mutual Benefits Assurance Plc lost 7.69 per cent to close at N0.48.

    During the week, NGX suspended trading in the shares of Union Bank of Nigeria Plc ahead of the delisting of the securities from the exchange.

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