IN DETAIL: NGX market valuation drops to N91.28trn | Investors trade N115bn shares

Stock market traders exchanged 4.14 billion shares valued at N115.88 billion in 102,351 deals between Monday and Friday, according to data from the Nigerian Exchange (NGX) Limited.

In its weekly market report for November 24 to November 28, the NGX said the figure represents an increase of 9.05 percent compared to the N106.26 billion expended in 107,998 deals for 2.66 billion shares the previous week.

The NGX data also said the market capitalisation shrank to N91.28 trillion this week, from the N91.41 trillion reported the previous week.

According to the bourse, the decline followed a 0.14 percent drop in the all-share index (ASI), which fell from 143,722.62 to 143,520.53 ASI.

TOP PERFORMING SECTORS

The stock market report showed that the top three performing sectors for the week were the financial services industry, the services industry, and the consumer goods industry.

According to the data, the financial services industry (measured by volume) led the activity chart with 3.35 billion shares valued at N81.17 billion traded in 43,392 deals.

The sector contributed 81.1 percent and 70.05 percent to the total equity turnover volume and value, respectively.

Also, the services industry followed with 148.27 million shares, worth N1.31 billion, traded in 7,181 deals.

Third place was the consumer goods industry, with a turnover of 143.63 million shares, valued at N7.98 billion, in 12,099 deals.

TOP THREE EQUITIES

NGX also said the top three equities were Cornerstone Insurance Plc, Guaranty Trust Holding Company Plc, and Access Holdings Plc.

The three firms were said to have accounted for 2 billion shares worth N47.53 billion in 10,185 deals.

The exchange added that the companies contributed 48.43 percent and 41.02 percent to the total equity turnover volume and value, respectively.

TOP GAINERS OF THE WEEK

According to the bourse, Ikeja Hotel Plc’s share appreciated by 45.08 percent, from N20.85 kobo per share to N30.25 kobo.

Also, the share price of NCR Nigeria Plc increased by N13.55 kobo, from N41.10 kobo to N54.65 kobo.

UACN Plc’s share appreciated by N8.9 kobo per share, after closing the week with N78.9 kobo from N70 it started with.

Also, CWG Plc’s share gained 11.84 percent, after appreciating from N16.05 to close the week at N7.95 kobo.

Similarly, Veritas Kapital Assurance closed the week at N1.78 kobo per share, up from N1.6 kobo per share, indicating a gain of N0.18 kobo.

TOP LOSERS OF THE WEEK

At the end of the trading week, Meyer Plc’s share, according to the report, depreciated by N3.05, from N16.15 kobo to N13.1 kobo.

Sunu Assurances Plc lost N0.68 kobo in its share price, which closed at N3.92 kobo per share, against the opening price of N4.6 kobo.

The share price of UPDC Plc also decreased to N5.02, after losing N0.68 kobo from the N5.7 kobo per share it started the week with.

In addition, the bourse said Tantalizers Plc’s share price declined from N2.51 kobo to N2.25 kobo per share, losing N0.26 kobo.

Also, Abbey Mortgage Bank Plc reported a loss of 0.65 percent, after the value of its share fell to N5.85 kobo, from N6.5 kobo.