NGX Records Strong Bullish Performance, Market Capitalisation Rises by N1.43 Trillion

Strategic Insights -

Renewed investor confidence surged in the Nigerian Exchange Limited (NGX) last week, driven by a strong bullish performance and led by top-tier banking equities. The market capitalisation of NGX rose by 1.92%, with the All-Share Index (ASI) climbing by 1.57%. The financial services sector led the trading chart, accounting for 52.02% of total equity turnover volume and 41.02% of total value. Among individual stocks, Fidelity Bank, Access Holdings, and Zenith Bank dominated activity by volume and value, collectively accounting for 22.16% of total volume and 25.39% of total value.

Key Takeaways:

  • The NGX recorded a strong bullish performance, adding N1.43 trillion to its market capitalisation.
  • The All-Share Index (ASI) climbed by 1.57%, closing at 119,995.76 points, up from 118,138.79 points the previous week.
  • Market capitalisation rose by 1.92%, jumping from N74.528 trillion to N75.962 trillion.
  • The financial services sector led the trading chart, accounting for 2.030 billion shares worth N41.934 billion in 42,959 deals, contributing 52.02% and 41.02% to total equity turnover volume and value respectively.
  • Among individual stocks, Fidelity Bank, Access Holdings, and Zenith Bank dominated activity by volume and value, collectively accounting for 864.681 million shares worth N25.955 billion across 15,136 deals.
  • The bond market saw a significant improvement, with 143,857 units valued at N134.173 million traded in 44 deals, improving on the previous week's 106,836 units worth N104.905 million in 58 deals.
  • Sectoral performance was mostly upbeat, with 78 gainers, compared to 55 in the previous week, while 43 equities remained unchanged.
  • The Oil and Gas Index fell by 2.23% due to profit-taking in select energy stocks.

Statistics:

  • N1.43 trillion: Total market capitalisation gain
  • 1.57%: Increase in All-Share Index (ASI)
  • 1.92%: Rise in market capitalisation
  • N74.528 trillion: Previous market capitalisation
  • N75.962 trillion: Current market capitalisation
  • 2.030 billion shares: Volume of shares traded in the financial services sector
  • N41.934 billion: Value of shares traded in the financial services sector
  • 864.681 million shares: Collective volume of shares traded by Fidelity Bank, Access Holdings, and Zenith Bank
  • N25.955 billion: Collective value of shares traded by Fidelity Bank, Access Holdings, and Zenith Bank
  • 143,857 units: Volume of bonds traded in the bond market
  • N134.173 million: Value of bonds traded in the bond market
  • 78: Number of gainers
  • 27: Number of decliners
  • 43: Number of equities that remained unchanged

Sources:

  • NGX Weekly Market Report