Financial Stocks Maintain Dominance at Nigerian Exchange

By Dipo Olowookere

The demand for monetary shares on the Nigerian Alternate (NGX) Restricted continued final week as buyers purchased and bought 1.578 billion models price N15.652 billion in 14,851 offers.

This left the sector on high of the exercise chart, contributing 71.82 per cent and 34.05 per cent to the entire buying and selling quantity and worth, respectively.

Enterprise Publish stories that power shares adopted with 157.221 million models valued at N1.304 billion in 3,549 offers, whereas the third place was occupied by the patron items equities with a turnover of 101.562 million models valued at N1.939 billion in 3,944 offers.

A breakdown confirmed that UBA, FCMB and NPF Microfinance Financial institution have been the busiest shares within the five-day buying and selling week, accounting for 696.244 million models price N4.019 billion in 2,398 offers, contributing 31.70 per cent and eight.74 per cent to the entire buying and selling quantity and worth apiece.

In all, the Nigerian inventory alternate witnessed the buying and selling of two.196 billion shares price N45.971 billion in 31,655 offers within the week in contrast with the two.586 billion shares price N46.643 billion transacted in 35,122 offers per week earlier.

It was noticed that the shopping for stress lifted the All-Share Index (ASI) and the market capitalisation by 0.20 per cent to 55,930.97 factors and N30.455 trillion, respectively.

Equally, all different indices completed increased besides NGX Premium, NGX AFR Div. Yield, NGX Lotus II, industrial items, progress and sovereign bond indices, which depreciated by 0.75 per cent, 0.06 per cent, 0.08 per cent, 1.31 per cent, 0.51 per cent, and 1.50 per cent, respectively, whereas the ASeM index closed flat.

The bourse completed with 52 value gainers final week in contrast with 66 within the previous week, 27 value losers in contrast with 23 within the earlier week, as 77 shares closed flat versus 67 shares within the previous week.

Eterna gained 45.41 per cent to finish at N13.45, Unity Financial institution grew by 44.00 per cent to 72 Kobo, FTN Cocoa rose by 40.91 per cent to 93 Kobo, Safe Digital Expertise appreciated by 38.46 per cent to 36 Kobo, and Cornerstone Insurance coverage elevated by 37.35 per cent to N1.14.

In distinction, John Holt misplaced 26.70 per cent to commerce at N1.40, RT Briscoe depreciated by 10.53 per cent to 34 Kobo, Sunu Assurance fell by 10.42 per cent to 43 Kobo, Courteville dropped 9.80 per cent to 46 Kobo, and Multiverse decreased by 9.54 per cent to N3.70.

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