The Nigerian equity market closed last week on a bullish note, recording a gain of N884bn as the All-Share Index appreciated by 1.38 per cent to settle at 105,933.03 points.
Similarly, the market capitalisation rose by 1.37 per cent to close at N65.592tn.
Trading data from the Nigerian Exchange Limited showed that a total turnover of 3.051bn shares valued at N98.350bn was recorded in 72,535 deals, compared to 3.245bn shares worth N69.198bn traded in 77,270 deals in the previous week.
The Financial Services Industry led in trading volume with 2.260bn shares valued at N52.190bn in 33,724 deals, contributing 74.08 per cent and 53.07 per cent to the total equity turnover volume and value, respectively. The Consumer Goods Industry followed with 141.684m shares worth N4.018bn in 7,218 deals, while the Industrial Goods Industry recorded 104.862m shares valued at N3.300bn in 3,995 deals.
Access Holdings Plc, FBN Holdings Plc, and Zenith Bank Plc led trading activity, accounting for 1.176bn shares worth N38.469bn in 9,506 deals. This represented 38.56 per cent and 39.11 per cent of total equity turnover volume and value, respectively.
Market performance indicators showed that 58 equities appreciated, higher than 52 recorded in the previous week, while 34 equities declined, lower than 44 from the prior week. 58 equities remained unchanged, compared to 54 in the preceding week.
UPDC Plc emerged as the top gainer, rising by 38.50 per cent from N1.87 to N2.59. Eterna Plc followed with a 32.79 per cent increase from N27.60 to N36.65, while International Energy Insurance Plc gained 29.53 per cent to close at N2.50. Cadbury Nigeria Plc and Fidson Healthcare Plc also recorded notable gains of 27.61 per cent and 24.40 per cent, respectively.
Conversely, Sunu Assurances Nigeria Plc led the losers’ chart with a 12.87 per cent drop to close at N5.01. University Press Plc declined by 10 per cent to N5.04, while Multiverse Mining and Exploration Plc fell by 9.95 per cent to N9.05. SCOA Nigeria Plc and Tripple Gee and Company Plc also recorded losses of 9.83 per cent and 9.72 per cent, respectively.
Meanwhile, the Federal Government of Nigeria’s January 2025 issue of Savings Bonds was listed on the NGX on February 7.
According to Meristem, sectoral performance on the Nigerian Exchange was predominantly bullish as the Banking Index gained 4.66 per cent week-on-week, the Oil and Gas Index rose by 0.56 per cent week-on-week, the Insurance Index increased by 1.61 per cent week-on-week, and the Industrial Goods Index advanced by 0.85 per cent week-on-week.
Similarly, the Meristem Telecommunications Index recorded a marginal gain of 0.17 per cent week-on-week, while the Meristem Agriculture Index posted the highest gain of 4.92 per cent week-on-week.
However, the Consumer Goods Index was the only sector to close in the red, declining by 0.60 per cent week-on-week.
The PUNCH reported that the Nigerian equity market saw growth, gaining N1.1tn in just one week, as the All-Share Index closed at 104,496.12 and market capitalisation rose to N64.709tn.