Stock Market Falls 0.11% By Sept. 22 Week's End


During the trading week that concluded on Friday, September 22, Nigeria's stock market experienced a decrease of 0.11 percent. In this review week, 48 stocks saw their prices rise, surpassing the 32 stocks that did so in the previous week. Additionally, 40 stocks saw a decrease in price, which was lower than the 53 stocks that experienced this in the prior week. Furthermore, 67 stocks remained unchanged, down from the 70 that stayed the same in the previous trading week.

The year-to-date return for the market closed lower at +31.36 percent. The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and the total market capitalization both depreciated by 0.11 percent, closing the week at 67,324.59 points and N36.847 trillion, respectively.

All other indices ended the week higher, except for NGX 30, NGX Premium, NGX AFR Div Yield, NGX Lotus II, NGX Industrial Goods, NGX Growth, and NGX Pension Broad, which experienced depreciations of 0.13 percent, 3.45 percent, 1.72 percent, 0.12 percent, 4.80 percent, 0.36 percent, and 0.14 percent, respectively. The NGX ASeM index remained unchanged.

The market reported a total turnover of 3.911 billion shares valued at N30.379 billion in 38,536 deals. This was in contrast to the previous week when a total of 2.933 billion shares valued at N47.449 billion were traded in 44,654 deals.

The Financial Services Industry, in terms of volume, led the activity chart with 2.774 billion shares valued at N15.241 billion traded in 16,379 deals, contributing 70.92 percent and 50.17 percent to the total equity turnover volume and value, respectively. The Oil and Gas Industry followed with 438.508 million shares worth N5.203 billion in 6,258 deals, while the ICT Industry had a turnover of 294.470 million shares worth N4.447 billion in 3,078 deals.

The top three equities traded during this period were Universal Insurance Plc, Oando Plc, and United Bank for Africa Plc, accounting for 2.212 billion shares worth N8.907 billion in 7,593 deals, contributing 56.56 percent and 29.32 percent to the total equity turnover volume and value, respectively.

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